American Century Companies Inc. Acquires Shares of 128,385 Blend Labs, Inc. $BLND

Key Points

• American Century Companies Inc. has acquired 128,385 shares of Blend Labs, Inc. for approximately $430,000 during the first quarter of the year.
• Numerous institutional investors, including Merit Financial Group and Castleview Partners, have also increased their stakes in Blend Labs recently.
• Blend Labs reported a loss of $0.03 per share in its last earnings announcement, missing the consensus estimate of $0.02 and guiding for a challenging financial outlook for the current year.

American Century Companies Inc. acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 128,385 shares of the company's stock, valued at approximately $430,000.

A number of other hedge funds have also recently made changes to their positions in BLND. Revolve Wealth Partners LLC purchased a new position in shares of Blend Labs during the 4th quarter worth approximately $132,000. Stifel Financial Corp boosted its position in Blend Labs by 96.4% in the 4th quarter. Stifel Financial Corp now owns 20,375 shares of the company's stock valued at $86,000 after buying an additional 10,000 shares during the period. Hsbc Holdings PLC boosted its position in Blend Labs by 75.2% in the 4th quarter. Hsbc Holdings PLC now owns 48,414 shares of the company's stock valued at $207,000 after buying an additional 20,780 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Blend Labs by 23.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 94,242 shares of the company's stock valued at $397,000 after buying an additional 17,914 shares during the period. Finally, Northern Trust Corp boosted its position in Blend Labs by 16.2% in the 4th quarter. Northern Trust Corp now owns 2,212,460 shares of the company's stock valued at $9,314,000 after buying an additional 309,067 shares during the period. Hedge funds and other institutional investors own 52.56% of the company's stock.

Insider Buying and Selling at Blend Labs

In related news, insider Brian Kneafsey sold 25,000 shares of Blend Labs 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 sale, the insider directly owned 696,598 shares in the company, valued at $1,999,236.26. This trade represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nima Ghamsari sold 311,886 shares of Blend Labs stock in a transaction 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 in the company, valued at $16,686,747.90. This represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,606 shares of company stock worth $1,584,045 over the last quarter. 35.52% of the stock is owned by company insiders.

Blend Labs Price Performance

Shares of BLND traded up $0.21 during midday trading on Thursday, reaching $4.34. The stock had a trading volume of 3,228,198 shares, compared to its average volume of 3,477,181. Blend Labs, Inc. has a 1-year low of $2.63 and a 1-year high of $5.53. The company's fifty day simple moving average is $3.49 and its two-hundred day simple moving average is $3.42. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -28.93 and a beta of 1.25.

Blend Labs (NYSE:BLND - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BLND shares. JMP Securities reissued a "market outperform" rating and issued a $7.00 price target on shares of Blend Labs in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods decreased their price target on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group reissued a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Blend Labs from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, UBS Group reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4.88.

Blend Labs 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.