Key Points
- Insider sale: Blend Labs insider Nima Ghamsari sold 24,272 shares for approximately $24,757 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 0.31% to 7.8 million shares.
- Stock performance: BLND opened at $1.01 and has declined substantially from its 52-week high of $3.62, with a market capitalization of approximately $240 million.
- Analyst outlook: Analysts have a consensus “Hold” rating and an average price target of $2.82, while institutional investors own 52.56% of the company’s outstanding shares.
Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Nima Ghamsari sold 24,272 shares of the company's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $1.02, for a total value of $24,757.44. Following the sale, the insider directly owned 7,803,566 shares of the company's stock, valued at approximately $7,959,637.32. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 value of $24,775.30.
- On Monday, September 21st, Nima Ghamsari sold 21,009 shares of Blend Labs stock. The stock was sold at an average price of $1.19, for a total value of $25,000.71.
Blend Labs Trading Down 0.5%
NYSE BLND opened at $1.01 on Thursday. The stock's 50-day moving average price is $1.42 and its two-hundred day moving average price is $1.57. The company has a market cap of $240.06 million, a PE ratio of -11.28 and a beta of 1.08. Blend Labs, Inc. has a 1 year low of $1.00 and a 1 year high of $3.62.
Hedge Funds Weigh In On Blend Labs
Several institutional investors and hedge funds have recently bought and sold shares of BLND. Essential Partners LLC lifted its position in shares of Blend Labs by 21,768.1% in the first quarter. Essential Partners LLC now owns 15,745 shares of the company's stock worth $27,000 after purchasing an additional 15,673 shares in the last quarter. Caerus Investment Advisors LLC purchased a new position in Blend Labs during the first quarter valued at approximately $41,000. Lexington Hill Partners LLC purchased a new position in Blend Labs during the fourth quarter valued at approximately $42,000. Abel Hall LLC acquired a new position in Blend Labs in the 1st quarter valued at approximately $48,000. Finally, Hyperion Capital Advisors LP acquired a new position in Blend Labs in the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 52.56% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, September 25th. Zacks Research raised shares of Blend Labs from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. The Goldman Sachs Group set a $3.00 price objective on shares of Blend Labs in a research note on Friday, August 7th. Citigroup reiterated a "market outperform" rating on shares of Blend Labs in a research report on Tuesday, July 21st. Finally, Citizens Jmp reissued a "market outperform" rating and set a $4.00 target price on shares of Blend Labs in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Blend Labs currently has an average rating of "Hold" and a consensus price target of $2.82.
Check Out Our Latest Report on Blend Labs
About Blend Labs
(
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 digitize and streamline the process of applying for, underwriting and closing financial products, helping institutions deliver more consistent experiences across digital and physical channels.
The company's solutions support a range of lending and banking activities, including consumer deposit accounts, mortgages, home equity loans, personal loans, auto loans and credit cards.
Further Reading
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