Key Points
- Insider sale: Blend Labs insider Nima Ghamsari sold 22,523 shares at an average price of $1.10, worth approximately $24,775. He still directly owns 7.83 million shares; the transaction was conducted under a pre-arranged Rule 10b5-1 plan.
- Stock performance: BLND opened at $1.04 and has traded between $1.02 and $3.86 over the past year. The company has a market capitalization of about $247 million and a negative P/E ratio of -11.61.
- Analyst outlook: Analysts have an average rating of “Hold” and an average price target of $2.82, while institutional investors own 52.56% of the company’s shares.
Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Nima Ghamsari sold 22,523 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $1.10, for a total value of $24,775.30. Following the sale, the insider directly owned 7,827,838 shares in the company, valued at approximately $8,610,621.80. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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, 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 1.5%
BLND stock opened at $1.04 on Thursday. Blend Labs, Inc. has a 52 week low of $1.02 and a 52 week high of $3.86. The business has a 50-day simple moving average of $1.49 and a 200 day simple moving average of $1.59. The company has a market cap of $247.15 million, a PE ratio of -11.61 and a beta of 1.09.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Weiss Ratings cut shares of Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, September 25th. Canaccord Genuity Group decreased their price objective on shares of Blend Labs from $4.50 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Citizens Jmp restated a "market outperform" rating and set a $4.00 price objective on shares of Blend Labs in a research report on Tuesday, July 21st. Citigroup restated a "market outperform" rating on shares of Blend Labs in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group set a $3.00 target price on Blend Labs in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.82.
Get Our Latest Stock Report on BLND
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of BLND. Capricorn Fund Managers Ltd acquired a new stake in Blend Labs during the 1st quarter worth about $11,049,000. Irenic Capital Management LP acquired a new position in shares of Blend Labs in the 4th quarter valued at about $9,469,000. Whetstone Capital Advisors LLC acquired a new position in shares of Blend Labs in the 4th quarter valued at about $3,560,000. Militia Capital Partners LP acquired a new position in Blend Labs in the fourth quarter valued at approximately $1,672,000. Finally, Sei Investments Co. lifted its stake in Blend Labs by 99.0% in the first quarter. Sei Investments Co. now owns 258,688 shares of the company's stock valued at $440,000 after buying an additional 128,677 shares during the period. 52.56% of the stock is currently owned by institutional investors.
Blend Labs Company Profile
(
Get Free Report)
Blend Labs, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to simplify and digitize consumer lending and banking processes, helping institutions manage applications, verification, underwriting, account opening and related workflows through online and mobile channels.
The company's product offerings support mortgage lending, consumer lending and deposit accounts. Its solutions include digital application and account-opening tools, income and asset verification, loan processing and closing capabilities, and configurable technology that financial institutions can use to create and manage digital banking experiences.
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