Diversified Trust Co Invests $248,000 in Blend Labs, Inc. $BLND

Key Points

• Diversified Trust Co invested approximately $248,000 in Blend Labs, acquiring 75,118 shares during the second quarter.
• Institutional investors collectively own 52.56% of Blend Labs' stock, with significant position increases from firms like Vanguard and Acadian Asset Management.
• Analysts maintain a consensus rating of "Moderate Buy" for Blend Labs, with a target price of $4.88 despite mixed ratings and recent performance challenges.

Diversified Trust Co purchased a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 75,118 shares of the company's stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BLND. Vanguard Group Inc. raised its position in Blend Labs by 4.6% during the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company's stock worth $58,915,000 after acquiring an additional 775,091 shares during the last quarter. Metavasi Capital LP raised its position in shares of Blend Labs by 15.6% during the 1st quarter. Metavasi Capital LP now owns 5,554,101 shares of the company's stock worth $18,606,000 after purchasing an additional 750,000 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Blend Labs by 28.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,318,924 shares of the company's stock worth $11,118,000 after purchasing an additional 729,512 shares during the last quarter. Next Century Growth Investors LLC raised its position in shares of Blend Labs by 1.6% during the 1st quarter. Next Century Growth Investors LLC now owns 1,521,648 shares of the company's stock worth $5,098,000 after purchasing an additional 23,777 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Blend Labs by 36.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,430,949 shares of the company's stock worth $4,788,000 after purchasing an additional 378,667 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a 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. UBS Group cut their target price on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating for the company in a research note on Friday, August 8th. Keefe, Bruyette & Woods cut their target price on shares of 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. Finally, JMP Securities reissued a "market outperform" rating and issued a $7.00 price objective on shares of Blend Labs in a research report on Wednesday, May 28th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.88.

Insiders Place Their Bets

In other Blend Labs news, insider Nima Ghamsari sold 311,886 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $2.90, for a total transaction of $904,469.40. Following the completion of the sale, 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 sale was disclosed in a legal filing 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 dated Friday, August 15th. The stock was sold at an average price of $2.87, for a total value of $71,750.00. Following the sale, the insider owned 696,598 shares of the company's stock, valued at $1,999,236.26. This represents 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 421,886 shares of company stock valued at $1,270,769. Insiders own 35.52% of the company's stock.

Blend Labs Price Performance

NYSE BLND opened at $3.78 on Thursday. Blend Labs, Inc. has a 12 month low of $2.63 and a 12 month high of $5.53. The company has a 50-day moving average of $3.60 and a 200-day moving average of $3.48. The company has a market cap of $980.22 million, a P/E ratio of -25.16 and a beta of 1.25.

Blend Labs (NYSE:BLND - Get Free Report) last issued 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. As a group, equities 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.