Blend Labs Director Brian Sheth Invests $4.32 Million in Company Stock
Brian Sheth, a director at Blend Labs, Inc. (NYSE: BLND), has made a significant investment in the company by acquiring 1,416,037 shares of Class A common stock, valued at approximately $4.32 million.
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The shares were purchased at a weighted average price of $3.0513 per share, with individual purchase prices ranging from $2.99 to $3.10.
According to Investing, this acquisition increases Sheth's indirect holdings to a total of 2,060,925 shares through various entities associated with Haveli Investments.
This insider purchase has drawn attention to Blend Labs, a fintech company specializing in digital banking solutions, which currently has a market capitalization of approximately $866 million.
Following the transaction, Blend Labs' stock is trading at $3.32 per share, with analysts setting price targets between $3.50 and $7.00, indicating potential growth prospects for Brian Sheth Haveli.
In related news, Blend Labs reported a 15% year-over-year increase in total revenue for the fourth quarter of 2024, reaching $41.4 million and slightly surpassing the forecasted $41.38 million.
The company's ongoing efforts to enhance its digital banking platform continue to position it as a notable player in the fintech industry.
