Blend Labs, Inc. (NYSE:BLND) Short Interest Update

Key Points

• Short Interest Increase: Blend Labs experienced a significant increase in short interest, rising by 45.5% in August, bringing the total to 11,220,000 shares, which is 5.7% of the company's shares sold short.
• Insider Selling: Insiders Nima Ghamsari and Brian Kneafsey sold substantial shares, reducing their stakes by 5.14% and 3.46%, respectively, with a total of 561,736 shares sold in the last quarter.
• Analyst Ratings: Analyst evaluations have resulted in a mix of ratings for Blend Labs, with a range of price targets from $3.50 to $7.00, indicating diverse expectations among analysts about the company's future performance.

Blend Labs, Inc. (NYSE:BLND - Get Free Report) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 11,220,000 shares, anincreaseof45.5% from the July 31st total of 7,710,000 shares. Currently,5.7% of the company's shares are sold short. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is presently 4.7 days. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is presently 4.7 days. Currently,5.7% of the company's shares are sold short.

Insiders Place Their Bets

In related news, insider Nima Ghamsari sold 311,886 shares of Blend Labs stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $2.90, for a total value of $904,469.40. Following the transaction, the insider owned 5,754,051 shares in the company, valued at $16,686,747.90. This trade represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Kneafsey sold 25,000 shares of Blend Labs stock in a transaction on Friday, August 15th. The stock was sold at an average price of $2.87, for a total transaction of $71,750.00. Following the completion of the transaction, the insider owned 696,598 shares in the company, 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. In the last quarter, insiders sold 561,736 shares of company stock worth $1,739,383. 35.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blend Labs

Hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors bought a new stake in Blend Labs during the second quarter worth about $35,000. Merit Financial Group LLC bought a new stake in Blend Labs during the first quarter worth about $36,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Blend Labs in the 2nd quarter worth about $37,000. Jump Financial LLC bought a new position in Blend Labs in the 2nd quarter worth about $38,000. Finally, Quadrature Capital Ltd bought a new position in Blend Labs in the 2nd quarter worth about $40,000. Institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th. Canaccord Genuity Group reiterated a "buy" rating and issued a $5.25 price objective on shares of Blend Labs in a research report on Friday, August 22nd. Wall Street Zen raised shares of Blend Labs from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, UBS Group cut their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4.88.

Blend Labs Stock Up 10.5%

Shares of BLND traded up $0.39 during trading hours on Friday, reaching $4.04. 8,129,759 shares of the company traded hands, compared to its average volume of 3,665,947. The company's fifty day moving average price is $3.42 and its two-hundred day moving average price is $3.41. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -26.90 and a beta of 1.25. Blend Labs has a 12 month low of $2.63 and a 12 month high of $5.53.

Blend Labs (NYSE:BLND - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $31.52 million for the quarter, compared to analyst estimates of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. On average, analysts expect that Blend Labs will post -0.19 EPS for the current year.

Blend Labs Company 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.

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