Blend Labs (NYSE:BLND) Shares Up 6.3% - Here's What Happened

Key Points

• Blend Labs shares increased by 6.3% on Wednesday, reaching a trading high of $4.48 before closing at $4.46, despite a significant drop in trading volume.
• Analyst ratings for Blend Labs are mixed, with Canaccord Genuity maintaining a "buy" rating with a $5.25 target price, while UBS Group downgraded its target from $4.00 to $3.50.
• Insiders have sold a total of 441,886 shares of Blend Labs stock over the last ninety days, with insiders currently owning 35.52% of the company's stock.

Blend Labs, Inc. (NYSE:BLND - Get Free Report) was up 6.3% during trading on Wednesday . The company traded as high as $4.48 and last traded at $4.46. Approximately 1,376,439 shares changed hands during trading, a decline of 53% from the average daily volume of 2,927,105 shares. The stock had previously closed at $4.19.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BLND shares. Canaccord Genuity Group reissued a "buy" rating and set a $5.25 price target on shares of Blend Labs in a research note on Friday, August 22nd. UBS Group reduced their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, August 8th. JMP Securities reissued a "market outperform" rating and issued a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods cut 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 research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Blend Labs from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. 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. According to MarketBeat.com, Blend Labs presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

Blend Labs Trading Down 5.9%

The firm's 50-day moving average price is $3.58 and its 200 day moving average price is $3.47. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -26.40 and a beta of 1.25.

Blend Labs (NYSE:BLND - Get Free Report) 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 business 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 research analysts anticipate that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

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 transaction of $71,750.00. Following the sale, the insider owned 696,598 shares of the company's stock, valued at $1,999,236.26. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nima Ghamsari sold 311,886 shares of the business'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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 441,886 shares of company stock worth $1,334,169. Insiders own 35.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BLND. Vanguard Group Inc. lifted its stake in Blend Labs by 4.6% in the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company's stock valued at $58,915,000 after buying an additional 775,091 shares during the period. Metavasi Capital LP increased its holdings in Blend Labs by 15.6% during the 1st quarter. Metavasi Capital LP now owns 5,554,101 shares of the company's stock worth $18,606,000 after purchasing an additional 750,000 shares in the last quarter. Whitebark Investors LP raised its position in Blend Labs by 4.6% in the 2nd quarter. Whitebark Investors LP now owns 4,853,883 shares of the company's stock valued at $16,018,000 after buying an additional 214,609 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in 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 purchasing an additional 729,512 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Blend Labs by 157.6% during the second 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 during the period. Institutional investors and hedge funds own 52.56% 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.