Walleye Capital LLC Makes New $315,000 Investment in Blend Labs, Inc. $BLND

Key Points

• Walleye Capital LLC acquired 93,895 shares of Blend Labs, Inc. valued at approximately $315,000 in the 1st quarter, reflecting increased institutional interest in the company.
• Corporate insider Nima Ghamsari sold 311,886 shares for about $904,469, decreasing ownership by 5.14%, amid overall insider selling of 561,736 shares valued at around $1.74 million in the last 90 days.
• Analysts have mixed ratings for Blend Labs, with price targets ranging from $3.50 to $5.25, indicating varied expectations on the stock's performance.

Walleye Capital LLC acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 93,895 shares of the company's stock, valued at approximately $315,000.

Several other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in Blend Labs by 1.6% during the fourth quarter. California State Teachers Retirement System now owns 189,417 shares of the company's stock worth $797,000 after buying an additional 3,049 shares in the last quarter. Arizona State Retirement System grew its position in Blend Labs by 6.1% in the first quarter. Arizona State Retirement System now owns 61,485 shares of the company's stock valued at $206,000 after acquiring an additional 3,559 shares during the last quarter. Deutsche Bank AG lifted its holdings in Blend Labs by 0.5% during the 1st quarter. Deutsche Bank AG now owns 1,209,057 shares of the company's stock worth $4,050,000 after buying an additional 5,546 shares during the period. Quadrant Private Wealth Management LLC raised its holdings in shares of Blend Labs by 7.8% during the first quarter. Quadrant Private Wealth Management LLC now owns 81,801 shares of the company's stock valued at $274,000 after purchasing an additional 5,892 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Blend Labs by 18.4% during the 1st quarter. Mackenzie Financial Corp now owns 41,511 shares of the company's stock worth $139,000 after buying an additional 6,444 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on BLND. JMP Securities restated a "market outperform" rating and issued a $7.00 price objective on shares of Blend Labs in a report on Wednesday, May 28th. Keefe, Bruyette & Woods decreased their target price on Blend Labs from $4.00 to $3.75 and set a "market perform" rating for the company in a research note 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. 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 report on Monday, May 12th. Finally, 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 research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Blend Labs has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

Insider Activity

In related news, insider Brian Kneafsey sold 25,000 shares of the company's stock in a transaction 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 owned 696,598 shares in the company, valued at $1,999,236.26. This represents a 3.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nima Ghamsari sold 311,886 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 of the company's stock, valued at $16,686,747.90. This trade represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 561,736 shares of company stock worth $1,739,383 in the last ninety days. Insiders own 35.52% of the company's stock.

Blend Labs Trading Up 8.6%

BLND stock traded up $0.35 during trading on Monday, reaching $4.38. 4,877,578 shares of the stock were exchanged, compared to its average volume of 2,928,655. Blend Labs, Inc. has a 1 year low of $2.63 and a 1 year high of $5.53. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -29.03 and a beta of 1.25. The business has a 50 day moving average price of $3.42 and a 200-day moving average price of $3.40.

Blend Labs (NYSE:BLND - Get Free Report) last posted 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 the consensus estimate of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Blend Labs, Inc. will post -0.19 EPS for the current year.

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.