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 $34,236 were sold by Ling Winnie on Oct 24 ’24. At $3.42 per share, Ling Winnie sold 10,000 shares. The insider’s holdings dropped to 249,169 shares worth approximately $0.9 million following the completion of this transaction.
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Also, Ling Winnie purchased 10,000 shares, netting a total of over 34,236 in proceeds.
Before that, Ling Winnie had sold 20,000 shares from its account. In a trade valued at $68,598, the HEAD OF LEGAL AND PEOPLE traded Blend Labs Inc shares for $3.43 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $0.94 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 5.22%. Over the course of the year, Blend Labs Inc shares have jumped approximately 42.35%. Shares of the company reached a 52-week high of $4.25 on 09/26/24 and a 52-week low of $2.08 on 06/26/24. A 50-day SMA is recorded $3.64, while a 200-day SMA reached $2.99. Nevertheless, trading volume fell to 2.61 million shares from 1.58 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 3.47, which, if violated, would cause prices to drop to 3.32. In the upper region, resistance lies at 3.71. The next price resistance is at 3.80. RSI (Relative Strength Index) is 52.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.02, which suggests the price will decrease in the coming days. Percent R is at 44.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
