Taking a Closer Look At Blend Labs Inc. (BLND) Following Its Recent Trade

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Blend Labs Inc.’s recently made public that its President Mayopoulos Timothy J unloaded Company’s shares for reported $16988.0 on Oct 19. In the deal valued at $1.97 per share,8,610 shares were sold. As a result of this transaction, Mayopoulos Timothy J now holds 559,884 shares worth roughly $ 1.15 million.

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Then, Sumner Crystal sold 12,920 shares, generating $27,251 in total proceeds. Upon selling the shares at $2.11, the Head of Legal, Compliance,Risk now owns 599,772 shares.

Before that, Sumner Crystal sold 12,920 shares. Blend Labs Inc. shares valued at $26,653 were divested by the Head of Legal, Compliance,Risk at a price of $2.06 per share. As a result of the transaction, Sumner Crystal now holds 599,772 shares, worth roughly $1.23 million.

Keefe Bruyette downgraded its Blend Labs Inc. [BLND] rating to an Underperform from a a Mkt perform in a research note published on Friday, July 25, 2022; the price target was decreased to $2.75 from $4. PT values the company’s stock at a premium of 25.45 to its Friday closing price. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who decreased its forecast for the stock in early July from “an Overweight” to “a Sector weight”. Compass Point began covering BLND with “Neutral” recommendation on May 25, 2022. William Blair revised its rating on April 04, 2022. It rated BLND as “a Mkt perform” which previously was an “an Outperform”.

Price Performance Review of BLND

On Friday, Blend Labs Inc. [NYSE:BLND] saw its stock fall -5.96% to $2.05. On the same session, the stock had its day’s lowest price of $1.95, but rose to a high of $2.21. Over the last five days, the stock has lost -16.33%. Blend Labs Inc. shares have fallen nearly -72.07% since the year began. Nevertheless, the stocks have fallen -86.77% over the past one year. While a 52-week high of $16.26 was reached on 02/10/22, a 52-week low of $1.78 was recorded on 10/24/22. SMA at 50 days reached $2.50, while 200 days put it at $4.29. A total of 1.05 million shares were traded, compared to the trading of 1.24 million shares in the previous session.

Levels Of Support And Resistance For BLND Stock

The 24-hour chart illustrates a support level at 1.93, which if violated will result in even more drops to 1.81. On the upside, there is a resistance level at 2.19. A further resistance level may holdings at 2.33. The Relative Strength Index (RSI) on the 14-day chart is 41.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.82%. Stochastics %K at 48.10% indicates the stock is a holding.

How much short interest is there in Blend Labs Inc.?

A steep rise in short interest was recorded in Blend Labs Inc. stocks on Jul 14, 2022, growing by 1.36 million shares to a total of 15.12 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 13.76 million shares. There was a rise of 8.99%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.24% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.28.

Blend Labs Inc. [BLND] – Who Are The Largest Shareholders?

In filings from Tiger Global Management LLC, it is revealed that the company now owns 14,022,186 shares, or roughly 6.37% of the outstanding BLND shares. In other words, the investor’s shares have fallen by -5,762,048 from its previous 13-F filing of 19784234.0. Additionally, The Vanguard Group, Inc. increased 20.49% of its stake after which the total value it holdings stand at $29,586,121. Over the last quarter, BlackRock Fund Advisors purchased 8,419,958 shares of Blend Labs Inc., while ShawSpring Partners LLC bought 1,013,929 shares. At present, MFN Partners Management LP is holding 8,369,982 shares valued at $18.5 million. SSgA Funds Management, Inc. owned 2,870,893 shares of the company at the time of its most recent 13F filing, worth $6.34 million.

According to FactSet, Blend Labs Inc.’s share price will average $3.24 in the next year, based on opinions of analysts polled by the firm. This is up nearly 42.2 percent from its previous closing price of $2.18. Analysts expect Blend Labs Inc. stock to reach the higher price of $4.20, while the lowest price estimate is $2.25. However, 10 analysts have rated BLND stock as a Hold in their predictions for 2022.


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