Key Points
- Blend Labs insider Nima Ghamsari sold 22,322 shares on November 2 at an average price of $1.16, totaling about $25,894. The sale was made under a pre-arranged Rule 10b5-1 trading plan; he retained 7,707,003 shares.
- Ghamsari has also made weekly sales in recent weeks, selling roughly 21,000–28,000 shares per week from September 21 through October 26.
- Blend Labs shares opened at $1.27, within a 52-week range of $0.88–$3.44. Analysts’ consensus rating is “Hold,” with an average price target of $2.82.
Blend Labs, Inc. (NYSE:BLND - Get Free Report) insider Nima Ghamsari sold 22,322 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $1.16, for a total transaction of $25,893.52. Following the transaction, the insider owned 7,707,003 shares in the company, valued at $8,940,123.48. This represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 26th, Nima Ghamsari sold 21,368 shares of Blend Labs stock. The shares were sold at an average price of $1.12, for a total transaction of $23,932.16.
- On Monday, October 19th, Nima Ghamsari sold 27,775 shares of Blend Labs stock. The stock was sold at an average price of $0.92, for a total transaction of $25,553.00.
- 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 stock was 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 value 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 value of $25,000.71.
Blend Labs Price Performance
Shares of NYSE:BLND opened at $1.27 on Thursday. Blend Labs, Inc. has a fifty-two week low of $0.88 and a fifty-two week high of $3.44. The business has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.61. The stock has a market capitalization of $301.55 million, a P/E ratio of -14.17 and a beta of 1.05.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BLND. Canaccord Genuity Group lowered their price objective on Blend Labs from $4.50 to $3.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Citigroup restated a "market outperform" rating on shares of Blend Labs in a report on Tuesday, July 21st. Citizens Jmp restated a "market outperform" rating and issued a $4.00 target price on shares of Blend Labs in a report on Tuesday, July 21st. Wall Street Zen cut Blend Labs from a "buy" rating to a "hold" rating in a research report on Sunday, October 25th. Finally, The Goldman Sachs Group set a $3.00 price target on Blend Labs in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $2.82.
Get Our Latest Research Report on Blend Labs
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of BLND. Chicago Partners Investment Group LLC increased its stake in shares of Blend Labs by 25.0% in the first quarter. Chicago Partners Investment Group LLC now owns 67,224 shares of the company's stock worth $108,000 after purchasing an additional 13,428 shares during the period. Essential Partners LLC increased its position 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 buying an additional 15,673 shares during the period. Bank of America Corp DE lifted its holdings in shares of Blend Labs by 6.8% during the first quarter. Bank of America Corp DE now owns 340,757 shares of the company's stock worth $579,000 after buying an additional 21,713 shares during the last quarter. Caerus Investment Advisors LLC bought a new stake in shares of Blend Labs in the first quarter valued at approximately $41,000. Finally, Abel Hall LLC acquired a new stake in shares of Blend Labs in the first quarter worth $48,000. Institutional investors own 52.56% of the company's stock.
About Blend Labs
(
Get Free Report)
Blend Labs, Inc develops cloud-based software that helps financial institutions digitize and streamline lending and banking processes. Its platform is designed to support customer applications, document collection, underwriting workflows, compliance requirements and other steps involved in delivering financial products.
The company's solutions cover areas including mortgage lending, consumer loans, deposit accounts and other retail banking services. Blend provides configurable tools intended to help banks, credit unions, fintech companies and other lenders create digital customer experiences while connecting front-end applications with back-office systems.
Blend was founded in 2012 and is headquartered in San Francisco, California.
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