Oxana Tkach Sells 4,247 Shares of Blend Labs, Inc. (NYSE:BLND) Stock

Blend Labs, Inc. (NYSE:BLND) insider Oxana Tkach sold 4,247 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.37, for a total transaction of $18,559.39. Following the transaction, the insider now directly owns 84,430 shares of the company’s stock, valued at approximately $368,959.10. This represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Oxana Tkach also recently made the following trade(s):

• On Monday, November 25th, Oxana Tkach sold 18,324 shares of Blend Labs stock. The shares were sold at an average price of $5.18, for a total value of $94,918.32.

Blend Labs Stock Performance

Shares of Blend Labs stock opened at $4.50 on Wednesday. Blend Labs, Inc. has a 52-week low of $2.08 and a 52-week high of $5.53. The company’s 50 day moving average price is $4.47 and its 200-day moving average price is $3.64. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -13.23 and a beta of 1.33.

Institutional Investors Weigh In On Blend Labs

A number of large investors have recently added to or reduced their stakes in BLND. FMR LLC boosted its holdings in shares of Blend Labs by 15.8% during the third quarter. FMR LLC now owns 26,148 shares of the company’s stock worth $98,000 after purchasing an additional 3,576 shares during the period. ClariVest Asset Management LLC lifted its holdings in Blend Labs by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 252,059 shares of the company’s stock worth $595,000 after buying an additional 6,988 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Blend Labs in the 2nd quarter worth approximately $31,000. Xponance Inc. purchased a new position in shares of Blend Labs during the second quarter valued at approximately $35,000. Finally, EP Wealth Advisors LLC raised its holdings in shares of Blend Labs by 8.2% during the second quarter. EP Wealth Advisors LLC now owns 212,841 shares of the company’s stock valued at $502,000 after acquiring an additional 16,084 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLND. UBS Group upped their target price on Blend Labs from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Blend Labs from $3.25 to $3.85 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Citizens Jmp raised shares of Blend Labs to a “strong-buy” rating in a report on Wednesday, December 18th. JMP Securities initiated coverage on shares of Blend Labs in a research report on Wednesday, December 18th. They set an “outperform” rating and a $7.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Blend Labs from $3.40 to $3.90 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Blend Labs has an average rating of “Moderate Buy” and a consensus price target of $5.11.

About Blend Labs

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.