Blend Labs, Inc. (NYSE:BLND – Get Free Report) insider Nima Ghamsari sold 22,322 shares of Blend Labs stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $1.16, for a total transaction of $25,893.52. Following the completion of the sale, the insider owned 7,707,003 shares of the company’s stock, valued at $8,940,123.48. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $0.92, for a total value 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 stock was 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 Stock Performance
NYSE BLND traded up $0.12 during mid-day trading on Wednesday, reaching $1.27. 2,566,194 shares of the stock were exchanged, compared to its average volume of 3,044,279. The business’s 50 day moving average is $1.21 and its 200-day moving average is $1.62. The company has a market capitalization of $301.55 million, a P/E ratio of -14.17 and a beta of 1.05. Blend Labs, Inc. has a 1 year low of $0.88 and a 1 year high of $3.44.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on BLND shares. Zacks Research upgraded shares of Blend Labs from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen cut Blend Labs from a “buy” rating to a “hold” rating in a report on Sunday, October 25th. Wells Fargo & Company cut their price target on shares of Blend Labs from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Canaccord Genuity Group reduced their price objective on shares of Blend Labs from $4.50 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Citizens Jmp restated a “market outperform” rating and set a $4.00 price target 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.82.
Check Out Our Latest Stock Analysis on BLND
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of Blend Labs in the 3rd quarter valued at $225,000. Sequoia Financial Advisors LLC acquired a new stake in Blend Labs in the second quarter valued at about $62,000. Squarepoint Ops LLC purchased a new stake in shares of Blend Labs in the second quarter valued at approximately $212,000. Irenic Capital Management LP boosted its position 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 purchasing an additional 79,901 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in Blend Labs during the second quarter worth about $68,000. Institutional investors and hedge funds own 52.56% of the company’s stock.
About Blend Labs
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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