The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Blend Labs Inc shares valued at $16,940 were purchased by Jafari Amir on Jul 12 ’24. At $2.54 per share, Jafari Amir acquired 6,666 shares. The insider’s holdings grew to 501,377 shares worth approximately $1.79 million following the completion of this transaction.
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Also, Jafari Amir purchased 6,265 shares, netting a total of over 16,687 in proceeds. Following the buying of shares at $2.66 each, the insider now holds 494,711 shares.
Before that, Ghamsari Nima had sold 81,434 shares from its account. In a trade valued at $238,903, the HEAD OF BLEND traded Blend Labs Inc shares for $2.93 each. Upon closing the transaction, the insider’s holdings decreased to 81,434 shares, worth approximately $7.51 million.
As published in a research note from Canaccord Genuity on August 12, 2024, Blend Labs Inc [BLND] has been rated up from a Hold to a Buy and the price target has been revised to $4.75 from $3. Analysts at William Blair upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in early August. As of December 20, 2023, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for BLND. Earlier on November 14, 2022, Keefe Bruyette upgraded its rating. Their new recommendation was “a Mkt perform” for BLND stock which previously was a “an Underperform”.
Analyzing BLND Stock Performance
During the last five days, there has been a surge of approximately 33.71%. Over the course of the year, Blend Labs Inc shares have jumped approximately 40.00%. Shares of the company reached a 52-week high of $4.14 on 08/09/24 and a 52-week low of $2.08 on 06/26/24. A 50-day SMA is recorded $2.73, while a 200-day SMA reached $2.47. Nevertheless, trading volume fell to 4.07 million shares from 5.73 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 3.45, which, if violated, would cause prices to drop to 3.32. In the upper region, resistance lies at 3.77. The next price resistance is at 3.96. RSI (Relative Strength Index) is 65.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.67, which suggests the price will decrease in the coming days. Percent R is at 32.20%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
