Algert Global LLC Acquires 308,080 Shares of Blend Labs, Inc. $BLND

Key Points

• Algert Global LLC increased its position in Blend Labs, Inc. by 425.1%, acquiring a total of 380,555 shares, worth approximately $1.27 million.
• Insiders sold 561,736 shares of Blend Labs stock in the past 90 days, with one insider reducing their position by 5.14% after selling nearly $904,469 worth of shares.
• Blend Labs reported earnings of ($0.03) per share for the last quarter, missing consensus estimates, while analysts currently rate the stock as a Moderate Buy with a consensus price target of $4.88.

Algert Global LLC grew its holdings in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 425.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 380,555 shares of the company's stock after acquiring an additional 308,080 shares during the period. Algert Global LLC owned 0.15% of Blend Labs worth $1,275,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BLND. Merit Financial Group LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at about $36,000. Balyasny Asset Management L.P. bought a new stake in Blend Labs in the fourth quarter worth approximately $46,000. Pallas Capital Advisors LLC acquired a new position in Blend Labs in the first quarter valued at approximately $51,000. Cerity Partners LLC acquired a new position in Blend Labs in the first quarter valued at approximately $62,000. Finally, Castleview Partners LLC bought a new position in shares of Blend Labs during the 1st quarter worth approximately $64,000. 52.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Blend Labs

In other news, insider Nima Ghamsari sold 311,886 shares of the stock in a transaction dated Thursday, August 14th. The shares were 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 in the company, valued at $16,686,747.90. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian Kneafsey sold 25,000 shares of the firm's stock in a transaction dated 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 directly owned 696,598 shares in the company, valued at $1,999,236.26. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 561,736 shares of company stock worth $1,739,383. Company insiders own 35.52% of the company's stock.

Blend Labs Stock Performance

BLND traded down $0.06 during midday trading on Thursday, reaching $3.55. 236,541 shares of the company were exchanged, compared to its average volume of 2,889,919. The company's fifty day moving average price is $3.37 and its 200 day moving average price is $3.43. The company has a market cap of $920.49 million, a price-to-earnings ratio of -23.57 and a beta of 1.24. Blend Labs, Inc. has a one year low of $2.63 and a one year high of $5.53.

Blend Labs (NYSE:BLND - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The firm had revenue of $31.52 million during the quarter, compared to the consensus estimate of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BLND has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and set 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. JMP Securities restated a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a report on Wednesday, May 28th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, The Goldman Sachs Group cut their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.88.

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.