Strs Ohio Takes $193,000 Position in Blend Labs, Inc. $BLND

Strs Ohio purchased a new position in Blend Labs, Inc. (NYSE:BLND) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 57,700 shares of the company’s stock, valued at approximately $193,000.

Other large investors also recently modified their holdings of the company. Merit Financial Group LLC acquired a new stake in shares of Blend Labs in the 1st quarter worth about $36,000. Crescent Park Management L.P. bought a new position in shares of Blend Labs during the 1st quarter valued at about $43,000. Pallas Capital Advisors LLC bought a new position in shares of Blend Labs during the 1st quarter valued at about $51,000. Summit Securities Group LLC purchased a new stake in Blend Labs during the first quarter valued at about $61,000. Finally, Cerity Partners LLC purchased a new stake in Blend Labs during the first quarter valued at about $62,000. 52.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Nima Ghamsari sold 311,886 shares of the stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were 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 of the company’s stock, valued at approximately $1,999,236.26. The trade was a 3.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 421,886 shares of company stock valued at $1,270,769. 35.52% of the stock is owned by company insiders.

Blend Labs Price Performance

Shares of BLND stock opened at $3.78 on Thursday. The stock has a market cap of $980.22 million, a PE ratio of -25.16 and a beta of 1.25. The stock has a 50-day moving average of $3.60 and a 200-day moving average of $3.48. Blend Labs, Inc. has a one year low of $2.63 and a one year high of $5.53.

Blend Labs (NYSE:BLND) last posted its earnings results 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 company had revenue of $31.52 million during the quarter, compared to analyst estimates of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLND. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods lowered their price target on Blend Labs from $4.00 to $3.75 and set a “market perform” rating on the stock in a report on Friday, August 8th. UBS Group lowered their price target on Blend Labs from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday, August 8th. Wall Street Zen raised shares of Blend Labs from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $5.25 price target on shares of Blend Labs in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.88.

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.