Brian Kneafsey Sells 25,000 Shares of Blend Labs (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Brian Kneafsey sold 25,000 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $3.06, for a total transaction of $76,500.00. Following the completion of the sale, the insider owned 649,824 shares of the company’s stock, valued at approximately $1,988,461.44. This represents a 3.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Blend Labs Trading Down 2.6%

BLND stock opened at $2.82 on Thursday. Blend Labs, Inc. has a 1-year low of $2.50 and a 1-year high of $4.49. The firm has a market cap of $731.19 million, a PE ratio of -28.15 and a beta of 1.24. The business’s 50-day moving average price is $3.09 and its two-hundred day moving average price is $3.35.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BLND shares. UBS Group lowered their target price on Blend Labs from $3.50 to $3.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Canaccord Genuity Group reissued a “buy” rating and set a $5.25 price objective on shares of Blend Labs in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Blend Labs from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Blend Labs currently has an average rating of “Hold” and an average target price of $4.80.

Hedge Funds Weigh In On Blend Labs

A number of large investors have recently modified their holdings of the business. Park West Asset Management LLC acquired a new stake in shares of Blend Labs in the third quarter valued at about $6,205,000. Marshall Wace LLP grew its stake in Blend Labs by 157.6% in the second quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock valued at $8,323,000 after purchasing an additional 1,543,220 shares in the last quarter. Prospect Capital Advisors LLC increased its position in shares of Blend Labs by 338.2% during the 3rd quarter. Prospect Capital Advisors LLC now owns 1,820,150 shares of the company’s stock worth $6,644,000 after purchasing an additional 1,404,750 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Blend Labs during the 3rd quarter worth approximately $4,490,000. Finally, Mirabella Financial Services LLP raised its stake in shares of Blend Labs by 64.5% during the 3rd quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock worth $9,650,000 after purchasing an additional 1,036,777 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Blend Labs

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.