Key Points
- Insider sale: Nima Ghamsari sold 25,098 Blend Labs shares at an average price of $0.97, generating $24,345.06. The Rule 10b5-1 transaction reduced his holdings by 0.32%, leaving him with 7.78 million shares.
- Stock performance: Blend Labs opened at $0.92, near its one-year low of $0.89 and well below its one-year high of $3.62. The company has a market capitalization of approximately $218.5 million.
- Analyst outlook: Analysts’ consensus rating is “Hold,” with an average price target of $2.82; ratings include four Buys, three Holds, and one Sell. Institutional investors own 52.56% of the stock.
Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Nima Ghamsari sold 25,098 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $0.97, for a total value of $24,345.06. Following the completion of the sale, the insider owned 7,778,468 shares in the company, valued at approximately $7,545,113.96. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 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 value of $24,757.44.
- On Monday, September 28th, Nima Ghamsari sold 22,523 shares of Blend Labs stock. The stock was 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 stock was sold at an average price of $1.19, for a total transaction of $25,000.71.
Blend Labs Price Performance
NYSE:BLND opened at $0.92 on Thursday. Blend Labs, Inc. has a one year low of $0.89 and a one year high of $3.62. The company has a market cap of $218.54 million, a P/E ratio of -10.27 and a beta of 1.08. The firm's fifty day moving average price is $1.33 and its two-hundred day moving average price is $1.54.
Hedge Funds Weigh In On Blend Labs
A number of hedge funds have recently bought and sold shares of the business. Essential Partners LLC raised its stake in Blend Labs by 21,768.1% in the 1st 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 bought a new stake in Blend Labs in the 1st quarter valued at about $41,000. Lexington Hill Partners LLC bought a new stake in Blend Labs in the 4th quarter valued at about $42,000. Abel Hall LLC acquired a new position in shares of Blend Labs during the 1st quarter worth approximately $48,000. Finally, Hyperion Capital Advisors LP acquired a new position in shares of Blend Labs during the 2nd quarter worth approximately $51,000. 52.56% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on BLND shares. Citigroup reaffirmed a "market outperform" rating on shares of Blend Labs in a report on Tuesday, July 21st. Weiss Ratings cut shares of Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, September 25th. The Goldman Sachs Group set a $3.00 price objective on shares of Blend Labs in a research report on Friday, August 7th. Citizens Jmp restated a "market outperform" rating and set a $4.00 price objective on shares of Blend Labs in a report on Tuesday, July 21st. Finally, Canaccord Genuity Group decreased their target price on Blend Labs from $4.50 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $2.82.
Check Out Our Latest Stock Analysis on Blend Labs
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 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.
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