Blend Labs (NYSE:BLND) Insider Nima Ghamsari Sells 22,322 Shares of Company Stock

Blend Labs, Inc. (NYSE:BLND) insider Nima Ghamsari sold 22,322 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $1.16, for a total transaction of $25,893.52. Following the completion of the sale, the insider owned 7,707,003 shares of the company’s stock, valued at approximately $8,940,123.48. This trade represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nima Ghamsari also recently made the following trade(s):

• On Monday, October 26th, Nima Ghamsari sold 21,368 shares of Blend Labs stock. The stock was sold at an average price of $1.12, for a total transaction of $23,932.16.
• On Monday, October 19th, Nima Ghamsari sold 27,775 shares of Blend Labs stock. The stock was sold at an average price of $0.92, for a total transaction of $25,553.00.
• On Monday, October 12th, Nima Ghamsari sold 25,098 shares of Blend Labs stock. The stock was sold at an average price of $0.97, for a total transaction of $24,345.06.
• On Monday, October 5th, Nima Ghamsari sold 24,272 shares of Blend Labs stock. The shares were sold at an average price of $1.02, for a total transaction of $24,757.44.
• On Monday, September 28th, Nima Ghamsari sold 22,523 shares of Blend Labs stock. The shares were sold at an average price of $1.10, for a total transaction of $24,775.30.
• On Monday, September 21st, Nima Ghamsari sold 21,009 shares of Blend Labs stock. The shares were sold at an average price of $1.19, for a total value of $25,000.71.

Blend Labs Stock Up 9.9%

Shares of Blend Labs stock opened at $1.27 on Thursday. The stock has a market cap of $301.55 million, a PE ratio of -14.17 and a beta of 1.05. The business has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $1.61. Blend Labs, Inc. has a 12 month low of $0.88 and a 12 month high of $3.44.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BLND shares. Canaccord Genuity Group reduced their price target on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Citigroup reiterated a “market outperform” rating on shares of Blend Labs in a research report on Tuesday, July 21st. Wells Fargo & Company cut their target price on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group set a $3.00 target price on shares of Blend Labs in a research note on Friday, August 7th. Finally, Citizens Jmp restated a “market outperform” rating and set a $4.00 price target on shares of Blend Labs in a report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Blend Labs has an average rating of “Hold” and a consensus target price of $2.82.

Institutional Investors Weigh In On Blend Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Essential Partners LLC lifted its holdings in shares of Blend Labs by 21,768.1% during the 1st quarter. Essential Partners LLC now owns 15,745 shares of the company’s stock valued at $27,000 after buying an additional 15,673 shares during the last quarter. Caerus Investment Advisors LLC bought a new stake in shares of Blend Labs in the 1st quarter valued at approximately $41,000. Abel Hall LLC acquired a new position in Blend Labs in the first quarter worth approximately $48,000. Hyperion Capital Advisors LP acquired a new position in Blend Labs in the second quarter worth approximately $51,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Blend Labs in the second quarter worth approximately $62,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Blend Labs Company Profile

Blend Labs, Inc develops cloud-based software that helps financial institutions digitize and streamline lending and banking processes. Its platform is designed to support customer applications, document collection, underwriting workflows, compliance requirements and other steps involved in delivering financial products.

The company’s solutions cover areas including mortgage lending, consumer loans, deposit accounts and other retail banking services. Blend provides configurable tools intended to help banks, credit unions, fintech companies and other lenders create digital customer experiences while connecting front-end applications with back-office systems.

Blend was founded in 2012 and is headquartered in San Francisco, California.