Invesco Ltd. Decreases Stock Position in Blend Labs, Inc. $BLND

Key Points

• Invesco Ltd. significantly reduced its stake in Blend Labs, cutting its ownership by 89.5% in the first quarter, now holding only 166,099 shares valued at approximately $556,000.
• Insider selling activity has been noted, with two key insiders, Brian Kneafsey and Nima Ghamsari, selling a combined total of 336,886 shares recently.
• Blend Labs' stock price has fluctuated between a one-year low of $2.63 and a high of $5.53, closing at around $4.04 on the latest trading day.

Invesco Ltd. lessened its position in Blend Labs, Inc. (NYSE:BLND - Free Report) by 89.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,099 shares of the company's stock after selling 1,410,248 shares during the period. Invesco Ltd. owned about 0.06% of Blend Labs worth $556,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BLND. Revolve Wealth Partners LLC acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $132,000. Stifel Financial Corp raised its position in shares of Blend Labs by 96.4% in the fourth 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 last quarter. Hsbc Holdings PLC raised its position in shares of Blend Labs by 75.2% in the fourth 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 last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Blend Labs by 23.5% in the fourth 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 last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Blend Labs in the fourth quarter valued at approximately $508,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

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

Blend Labs Trading Up 5.1%

BLND traded up $0.21 during trading on Thursday, hitting $4.34. 3,228,198 shares of the company's stock were exchanged, 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 stock has a 50 day moving average price of $3.49 and a 200 day moving average price of $3.42. The firm has a market cap of $1.13 billion, a P/E ratio of -28.93 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 (EPS) for the quarter, missing the consensus estimate 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. Analysts forecast that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Activity at Blend Labs

In other Blend Labs news, insider Nima Ghamsari sold 311,886 shares of the business'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 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. 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 available through this hyperlink. Also, insider Brian Kneafsey sold 25,000 shares of the business'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 sale, the insider 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. Over the last quarter, insiders have sold 517,606 shares of company stock valued at $1,584,045. 35.52% of the stock is owned by insiders.

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.