Rhumbline Advisers Acquires 32,030 Shares of Blend Labs, Inc. $BLND

Rhumbline Advisers grew its position in Blend Labs, Inc. (NYSE:BLND) by 10.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324,773 shares of the company’s stock after purchasing an additional 32,030 shares during the period. Rhumbline Advisers owned approximately 0.13% of Blend Labs worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BLND. Merit Financial Group LLC bought a new stake in Blend Labs during the first quarter worth about $36,000. Crescent Park Management L.P. acquired a new stake in Blend Labs during the first quarter worth approximately $43,000. Pallas Capital Advisors LLC acquired a new stake in Blend Labs during the first quarter worth approximately $51,000. Summit Securities Group LLC acquired a new stake in shares of Blend Labs in the 1st quarter valued at $61,000. Finally, Cerity Partners LLC acquired a new stake in shares of Blend Labs in the 1st quarter valued at $62,000. Institutional investors own 52.56% of the company’s stock.

Blend Labs Stock Down 5.9%

Shares of NYSE BLND opened at $3.96 on Friday. Blend Labs, Inc. has a twelve month low of $2.63 and a twelve month high of $5.53. The firm has a market cap of $1.03 billion, a P/E ratio of -26.40 and a beta of 1.25. The company has a 50 day moving average of $3.58 and a 200 day moving average of $3.46.

Blend Labs (NYSE:BLND) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The firm had revenue of $31.52 million for 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 expect that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BLND. Wall Street Zen upgraded Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.25 target price on shares of Blend Labs in a research report on Friday, August 22nd. Keefe, Bruyette & Woods decreased their price target on Blend Labs from $4.00 to $3.75 and set a “market perform” rating for the company in a report on Friday, August 8th. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Blend Labs in a research note on Wednesday, May 28th. Finally, UBS Group reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $2.87, for a total transaction of $71,750.00. Following the sale, the insider directly owned 696,598 shares in the company, valued at approximately $1,999,236.26. This represents a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nima Ghamsari sold 311,886 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $2.90, for a total transaction of $904,469.40. Following the sale, the insider owned 5,754,051 shares in the company, valued at $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. In the last quarter, insiders sold 441,886 shares of company stock worth $1,334,169. Corporate insiders own 35.52% of the company’s stock.

About Blend Labs

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.