Invesco Ltd. Trims Stock Position in Blend Labs, Inc. $BLND

Invesco Ltd. cut its stake in shares of Blend Labs, Inc. (NYSE:BLND) by 89.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,099 shares of the company’s stock after selling 1,410,248 shares during the quarter. Invesco Ltd. owned approximately 0.06% of Blend Labs worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BLND. Revolve Wealth Partners LLC bought a new position in shares of Blend Labs during the 4th quarter valued at approximately $132,000. Stifel Financial Corp grew its stake in shares of Blend Labs by 96.4% during the 4th quarter. Stifel Financial Corp now owns 20,375 shares of the company’s stock valued at $86,000 after acquiring an additional 10,000 shares during the period. Hsbc Holdings PLC grew its stake in shares of Blend Labs by 75.2% during the 4th quarter. Hsbc Holdings PLC now owns 48,414 shares of the company’s stock valued at $207,000 after acquiring an additional 20,780 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Blend Labs by 23.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 94,242 shares of the company’s stock valued at $397,000 after acquiring an additional 17,914 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of Blend Labs during the 4th quarter valued at approximately $508,000. 52.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BLND shares. Keefe, Bruyette & Woods cut their price objective on Blend Labs from $4.00 to $3.75 and set a “market perform” rating for the company in a research note on Friday, August 8th. Wall Street Zen raised Blend Labs from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Blend Labs in a research note on Wednesday, May 28th. UBS Group dropped their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, August 8th. Finally, The Goldman Sachs Group dropped their price target on Blend Labs from $5.60 to $4.80 and set a “buy” rating for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.88.

Insiders Place Their Bets

In related news, insider Brian Kneafsey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $2.87, for a total value of $71,750.00. Following the completion of the sale, the insider directly owned 696,598 shares in the company, valued at $1,999,236.26. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nima Ghamsari sold 311,886 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $2.90, for a total value of $904,469.40. Following the completion of the sale, the insider owned 5,754,051 shares of the company’s stock, valued at approximately $16,686,747.90. This represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,736 shares of company stock valued at $1,739,383. 35.52% of the stock is owned by corporate insiders.

Blend Labs Stock Performance

NYSE BLND opened at $4.04 on Friday. The company has a market capitalization of $1.05 billion, a P/E ratio of -26.90 and a beta of 1.25. Blend Labs, Inc. has a one year low of $2.63 and a one year high of $5.53. The stock has a 50 day moving average price of $3.42 and a 200-day moving average price of $3.41.

Blend Labs (NYSE:BLND) last released its earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm had revenue of $31.52 million during the quarter, compared to analysts’ expectations of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.

Blend Labs Profile

Blend Labs, Inc engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty.