Russell Investments Group Ltd. Sells 94,893 Shares of Blend Labs, Inc. $BLND

Key Points

• Russell Investments Group Ltd. reduced its stake in Blend Labs, Inc. by 11.9%, holding 705,735 shares valued at $2.36 million after selling 94,893 shares.
• Blend Labs' recent quarterly earnings revealed a loss of ($0.03) earnings per share, below analysts' expectations, with revenue reported at $31.52 million.
• Hedge funds and institutional investors currently own 52.56% of Blend Labs' stock, indicating significant interest from larger financial entities.

Russell Investments Group Ltd. cut its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 11.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 705,735 shares of the company's stock after selling 94,893 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Blend Labs worth $2,364,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Lightspeed Management Company L.L.C. purchased a new position in Blend Labs in the fourth quarter worth about $97,366,000. Vanguard Group Inc. raised its holdings in shares of Blend Labs by 4.6% during the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company's stock valued at $58,915,000 after purchasing an additional 775,091 shares during the last quarter. Metavasi Capital LP raised its holdings in shares of Blend Labs by 6.4% during the fourth quarter. Metavasi Capital LP now owns 4,804,101 shares of the company's stock valued at $20,225,000 after purchasing an additional 290,623 shares during the last quarter. Whitebark Investors LP purchased a new position in shares of Blend Labs during the fourth quarter valued at approximately $10,895,000. Finally, Northern Trust Corp raised its holdings in shares of Blend Labs by 16.2% during the fourth quarter. Northern Trust Corp now owns 2,212,460 shares of the company's stock valued at $9,314,000 after purchasing an additional 309,067 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group decreased their price objective on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Friday, August 8th. Wall Street Zen raised shares of Blend Labs from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Keefe, Bruyette & Woods decreased their price objective on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" rating for the company in a report on Friday, August 8th. Canaccord Genuity Group reissued a "buy" rating and set a $5.25 price objective on shares of Blend Labs in a report on Friday, August 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a report on Monday, May 12th. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.88.

Insider Buying and Selling

In other Blend Labs news, insider Nima Ghamsari sold 311,886 shares of the company's stock in a transaction that occurred 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Kneafsey sold 25,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider owned 696,598 shares of the company's stock, valued at approximately $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 quarter, insiders sold 561,736 shares of company stock valued at $1,739,383. Company insiders own 35.52% of the company's stock.

Blend Labs Trading Up 1.9%

NYSE BLND traded up $0.07 during trading hours on Friday, hitting $3.61. 1,451,382 shares of the company's stock traded hands, compared to its average volume of 3,706,675. The business's fifty day moving average price is $3.39 and its two-hundred day moving average price is $3.42. The firm has a market capitalization of $937.11 million, a P/E ratio of -24.06 and a beta of 1.24. Blend Labs, Inc. has a 52 week low of $2.63 and a 52 week high of $5.53.

Blend Labs (NYSE:BLND - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share (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 the consensus estimate of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect 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.