EdgePoint Investment Group Inc. Buys 729,512 Shares of Blend Labs, Inc. $BLND

Key Points

• EdgePoint Investment Group Inc. increased its stake in Blend Labs, Inc. by 28.2%, owning approximately $11.12 million worth of the company's stock as of the end of the 1st quarter.
• Blend Labs recently reported a quarterly loss of ($0.03) earnings per share, missing estimates and projecting a consensus forecast of -0.19 EPS for the current fiscal year.
• Analysts have set a consensus price target of $4.88 for Blend Labs, with ratings ranging from "Strong Buy" to "Hold" from various financial institutions.

EdgePoint Investment Group Inc. increased its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,318,924 shares of the company's stock after acquiring an additional 729,512 shares during the quarter. EdgePoint Investment Group Inc. owned about 1.28% of Blend Labs worth $11,118,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Blend Labs in the 1st quarter worth $64,000. Rhumbline Advisers raised its holdings in Blend Labs by 10.9% in the 1st quarter. Rhumbline Advisers now owns 324,773 shares of the company's stock worth $1,088,000 after acquiring an additional 32,030 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 worth $397,000 after acquiring an additional 17,914 shares during the period. Stifel Financial Corp raised its holdings in Blend Labs by 96.4% in the 4th quarter. Stifel Financial Corp now owns 20,375 shares of the company's stock worth $86,000 after acquiring an additional 10,000 shares during the period. Finally, Merit Financial Group LLC bought a new position in Blend Labs in the 1st quarter worth $36,000. Institutional investors own 52.56% of the company's stock.

Insider Activity

In related news, insider Nima Ghamsari sold 311,886 shares of Blend Labs stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $2.90, for a total transaction of $904,469.40. Following the completion of the transaction, the insider directly owned 5,754,051 shares of the company's stock, valued at $16,686,747.90. This trade represents a 5.14% decrease in their position. 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 business's stock in a transaction dated 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 directly owned 696,598 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 561,736 shares of company stock valued at $1,739,383 over the last three months. 35.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Blend Labs from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. The Goldman Sachs Group decreased their price target 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. UBS Group decreased their price target on shares of Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Keefe, Bruyette & Woods decreased their price target on shares of Blend Labs from $4.00 to $3.75 and set a "market perform" rating on the stock in a research report on Friday, August 8th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $5.25 price target on shares of Blend Labs in a research report on Friday, August 22nd. One investment 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. According to MarketBeat, Blend Labs has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

Blend Labs Trading Up 8.3%

BLND stock traded up $0.34 during trading on Monday, hitting $4.37. 7,047,535 shares of the stock traded hands, compared to its average volume of 2,942,751. Blend Labs, Inc. has a one year low of $2.63 and a one year high of $5.53. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -29.10 and a beta of 1.25. The company has a 50 day simple moving average of $3.42 and a 200 day simple moving average of $3.40.

Blend Labs (NYSE:BLND - Get Free Report) last announced its quarterly 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 analysts' expectations of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, analysts predict that Blend Labs, Inc. will post -0.19 earnings per share 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.