Blend Labs Inc. [BLND] stock for 38,825 USD was sold by Sumner Crystal

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Blend Labs Inc. shares valued at $38,825 were sold by Sumner Crystal on Sep 07. At $3.00 per share, Sumner Crystal sold 12,920 shares. The insider’s holdings dropped to 599,772 shares worth approximately $1.35 million following the completion of this transaction.


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Also, Sumner Crystal sold 12,920 shares, netting a total of over 40,069 in proceeds. Following the sale of shares at $3.10 each, the insider now holds 599,772 shares.

Before that, Mayopoulos Timothy J had sold 66,349 shares from its account. In a trade valued at $195,716, the President traded Blend Labs Inc. shares for $2.95 each. Upon closing the transaction, the insider’s holdings decreased to 66,349 shares, worth approximately $1.28 million.

As published in a research note from Keefe Bruyette on July 25, 2022, Blend Labs Inc. [BLND] has been rated down from a Mkt perform to an Underperform and the price target has been revised to $2.75 from $4. This represents a 18.18% premium over Thursday’s closing price. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in early July. As of May 25, 2022, Compass Point has initiated its “Neutral” rating for BLND. Earlier on April 04, 2022, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for BLND stock which previously was a “an Outperform”.

Analyzing BLND’s Price Performance

On Thursday, Blend Labs Inc. [NYSE: BLND] plunged -0.44% to $2.25. The stock’s lowest price that day was $2.10, but it reached a high of $2.265 in the same session. During the last five days, there has been a drop of approximately -26.23%. Over the course of the year, Blend Labs Inc. shares have dropped approximately -69.35%. Shares of the company reached a 52-week high of $10.22 on 02/10/22 and a 52-week low of $2.10 on 09/22/22. A 50-day SMA is recorded $2.93, while a 200-day SMA reached $5.10. Nevertheless, trading volume fell to 1.59 million shares from 1.74 million shares the previous day.

Support And Resistance Levels for Blend Labs Inc. (BLND)

According to the 24-hour chart, there is a support level at 2.14, which, if violated, would cause prices to drop to 2.04. In the upper region, resistance lies at 2.31. The next price resistance is at 2.37. RSI (Relative Strength Index) is 29.68 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 88.10%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Blend Labs Inc. subject to short interest?

Stocks of Blend Labs Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.36 million shares to 15.12 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.76 million shares. A jump of 8.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.28 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.28.

Which companies own the most shares of Blend Labs Inc. (BLND)?

According to Tiger Global Management LLC filings, the company currently owns 14,022,186 shares, which is about 6.37% of the total BLND shares outstanding. The investor’s shares have plunged by -5,762,048 from its previous 13-F filing of 19784234.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $42,170,263. A total of 1,013,929 shares of Blend Labs Inc. were bought by ShawSpring Partners LLC during the quarter, and 3,369,982 were bought by MFN Partners Management LP. In its current portfolio, SSgA Funds Management, Inc. holds 2,870,893 shares valued at $9.04 million.

In terms of Blend Labs Inc. share price expectations, FactSet research, analysts set an average price target of $3.52 in the next 12 months, up nearly 37.17% from the previous closing price of $2.26. Analysts anticipate Blend Labs Inc. stock to reach $5.25 by 2022, with the lowest price target being $2.50. In spite of this, 10 analysts ranked Blend Labs Inc. stock as a Hold at the end of 2022. On April 01, 2022, Wells Fargo assigned a price target of “an Equal weight” to the stock and downgraded coverage with a $5.

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