Metavasi Capital LP Acquires 750,000 Shares of Blend Labs, Inc. $BLND

Key Points

• Metavasi Capital LP increased its position in Blend Labs, Inc. by 15.6%, now holding over 5.5 million shares, making it the fund's second-largest investment.
• Wall Street analysts have mixed views on Blend Labs; one analyst rates it as a Strong Buy while the stock has a consensus rating of "Moderate Buy" with a price target of $4.88.
• Recently, insiders sold a substantial number of shares, including Nima Ghamsari who sold 311,886 shares, indicating a 5.14% decrease in their holdings.

Metavasi Capital LP lifted its stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,554,101 shares of the company's stock after acquiring an additional 750,000 shares during the quarter. Blend Labs makes up approximately 11.8% of Metavasi Capital LP's holdings, making the stock its 2nd biggest holding. Metavasi Capital LP owned about 2.14% of Blend Labs worth $18,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLND. Merit Financial Group LLC purchased a new position in shares of Blend Labs during the first quarter worth approximately $36,000. Crescent Park Management L.P. bought a new position in shares of Blend Labs during the first quarter valued at approximately $43,000. Balyasny Asset Management L.P. bought a new position in shares of Blend Labs during the fourth quarter valued at approximately $46,000. Pallas Capital Advisors LLC bought a new position in shares of Blend Labs during the first quarter valued at approximately $51,000. Finally, Summit Securities Group LLC bought a new position in shares of Blend Labs during the first quarter valued at approximately $61,000. 52.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blend Labs news, insider Nima Ghamsari sold 311,886 shares of Blend Labs stock in a transaction on 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 transaction, the insider owned 5,754,051 shares of the company's stock, valued at approximately $16,686,747.90. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the insider directly owned 696,598 shares of the company's stock, 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 sold 561,736 shares of company stock valued at $1,739,383 in the last ninety days. 35.52% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BLND has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Blend Labs from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. UBS Group dropped their price objective 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. JMP Securities reiterated a "market outperform" rating and set a $7.00 price objective on shares of Blend Labs in a research note on Wednesday, May 28th. Canaccord Genuity Group restated a "buy" rating and issued a $5.25 target price on shares of Blend Labs in a research note on Friday, August 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

Blend Labs Trading Up 10.5%

Shares of NYSE:BLND traded up $0.39 on Friday, hitting $4.04. 8,129,759 shares of the company were exchanged, compared to its average volume of 3,665,947. The stock's 50 day moving average price is $3.42 and its 200 day moving average price is $3.41. 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 $1.05 billion, a P/E ratio of -26.90 and a beta of 1.25.

Blend Labs (NYSE:BLND - Get Free Report) last released its quarterly earnings data 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 business 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, equities analysts predict that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.

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.