Blend Labs (NYSE:BLND) Trading Down 4.6% - Here's What Happened

Key Points

• Blend Labs' share price decreased by 4.6%, trading at $4.02 on Friday, with a significant drop in trading volume, declining 76% from the average.
• Analysts have mixed opinions, with a consensus rating of "Moderate Buy" and an average price target of $4.88, while some downgraded their price targets.
• Insider trading showed notable activity, including the sale of 311,886 shares by insider Nima Ghamsari, which represented a 5.14% decrease in their ownership of Blend Labs stock.

Blend Labs, Inc. (NYSE:BLND - Get Free Report)'s stock price fell 4.6% during trading on Friday . The stock traded as low as $4.05 and last traded at $4.02. 705,450 shares were traded during mid-day trading, a decline of 76% from the average session volume of 2,932,776 shares. The stock had previously closed at $4.21.

Analyst Upgrades and Downgrades

BLND has been the topic of several research reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.25 price target on shares of Blend Labs in a report on Friday, August 22nd. Keefe, Bruyette & Woods decreased their price target on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" 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 report on Sunday, August 17th. UBS Group reduced their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, JMP Securities reissued a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a report on Wednesday, May 28th. One 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.88.

Blend Labs Price Performance

The stock's 50-day moving average price is $3.58 and its 200-day moving average price is $3.47.

Blend Labs (NYSE:BLND - Get Free Report) last issued its quarterly 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 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. Equities research analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nima Ghamsari sold 311,886 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $2.90, for a total transaction of $904,469.40. Following the transaction, the insider owned 5,754,051 shares in the company, valued at $16,686,747.90. The trade was a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Kneafsey sold 25,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $2.87, for a total transaction of $71,750.00. Following the transaction, the insider owned 696,598 shares in the company, valued at $1,999,236.26. The trade was a 3.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 421,886 shares of company stock worth $1,270,769 in the last quarter. 35.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Blend Labs by 4.6% during the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company's stock worth $58,915,000 after buying an additional 775,091 shares during the last quarter. Metavasi Capital LP grew its stake in shares of Blend Labs by 15.6% in the 1st quarter. Metavasi Capital LP now owns 5,554,101 shares of the company's stock worth $18,606,000 after acquiring an additional 750,000 shares in the last quarter. Whitebark Investors LP grew its stake in shares of Blend Labs by 4.6% in the 2nd quarter. Whitebark Investors LP now owns 4,853,883 shares of the company's stock worth $16,018,000 after acquiring an additional 214,609 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Blend Labs by 28.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,318,924 shares of the company's stock worth $11,118,000 after acquiring an additional 729,512 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Blend Labs by 157.6% in the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company's stock worth $8,323,000 after acquiring an additional 1,543,220 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

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.