Key Points
- Insider sale: Blend Labs insider Nima Ghamsari sold 27,775 shares for $25,553 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 0.36% to 7.75 million shares. He has also made several weekly sales since September.
- Stock performance: BLND opened at $1.09, with a 52-week range of $0.88 to $3.62. Its market capitalization is approximately $259 million, while its 50-day and 200-day moving averages are $1.27 and $1.52, respectively.
- Analyst outlook: The stock has a consensus rating of Hold and an average price target of $2.82, with four Buy, three Hold, and one Sell rating. Institutional investors and hedge funds own 52.56% of the company.
Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Nima Ghamsari sold 27,775 shares of the firm's stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $0.92, for a total transaction of $25,553.00. Following the sale, the insider directly owned 7,750,693 shares in the company, valued at $7,130,637.56. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 transaction of $25,000.71.
Blend Labs Stock Performance
Shares of NYSE BLND opened at $1.09 on Thursday. Blend Labs, Inc. has a 1 year low of $0.88 and a 1 year high of $3.62. The firm's 50 day moving average price is $1.27 and its 200 day moving average price is $1.52. The firm has a market cap of $258.98 million, a P/E ratio of -12.17 and a beta of 1.08.
Hedge Funds Weigh In On Blend Labs
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC acquired a new position in shares of Blend Labs in the 2nd quarter valued at $62,000. Squarepoint Ops LLC acquired a new stake in shares of Blend Labs during the 2nd quarter worth $212,000. Irenic Capital Management LP increased its holdings in shares of Blend Labs by 3.6% during the 2nd quarter. Irenic Capital Management LP now owns 2,284,101 shares of the company's stock worth $3,906,000 after buying an additional 79,901 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Blend Labs in the 2nd quarter worth $68,000. Finally, Hyperion Capital Advisors LP purchased a new position in shares of Blend Labs in the 2nd quarter worth $51,000. Institutional investors and hedge funds own 52.56% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on BLND. Wall Street Zen raised Blend Labs from a "hold" rating to a "buy" rating in a research note on Saturday, October 17th. Zacks Research raised Blend Labs from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 18th. Weiss Ratings lowered Blend Labs from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, September 25th. Citigroup reiterated a "market outperform" rating on shares of Blend Labs in a research note on Tuesday, July 21st. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $4.00 target price on shares of Blend Labs in a research report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $2.82.
View Our Latest Stock Report 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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