Nishkama Capital LLC Makes New $1.75 Million Investment in Blend Labs, Inc. $BLND

Key Points

• Nishkama Capital LLC has made a new investment of $1.75 million in Blend Labs, acquiring 522,973 shares, representing 0.20% ownership of the company.
• Wall Street analysts have mixed views on Blend Labs, with a consensus target price of $4.88 and ratings ranging from "Strong Buy" to "Market Perform."
• Insider activity includes significant stock sales, with insiders selling over 561,736 shares worth approximately $1.74 million in the last quarter, reducing their ownership by 35.52%.

Nishkama Capital LLC acquired a new position in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 522,973 shares of the company's stock, valued at approximately $1,752,000. Nishkama Capital LLC owned 0.20% of Blend Labs at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in Blend Labs by 1.6% during the fourth quarter. California State Teachers Retirement System now owns 189,417 shares of the company's stock worth $797,000 after purchasing an additional 3,049 shares during the period. Arizona State Retirement System boosted its position in Blend Labs by 6.1% during the first quarter. Arizona State Retirement System now owns 61,485 shares of the company's stock worth $206,000 after purchasing an additional 3,559 shares during the period. Deutsche Bank AG boosted its position in Blend Labs by 0.5% during the first quarter. Deutsche Bank AG now owns 1,209,057 shares of the company's stock worth $4,050,000 after purchasing an additional 5,546 shares during the period. Quadrant Private Wealth Management LLC boosted its position in Blend Labs by 7.8% during the first quarter. Quadrant Private Wealth Management LLC now owns 81,801 shares of the company's stock worth $274,000 after purchasing an additional 5,892 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Blend Labs by 18.4% during the first quarter. Mackenzie Financial Corp now owns 41,511 shares of the company's stock worth $139,000 after purchasing an additional 6,444 shares during the period. 52.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLND has been the subject of a number of recent research reports. JMP Securities reissued a "market outperform" rating and issued a $7.00 target price on shares of Blend Labs in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Blend Labs from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Keefe, Bruyette & Woods cut 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 research report on Friday, August 8th. The Goldman Sachs Group lowered their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $5.25 target price on shares of Blend Labs in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Blend Labs has an average rating of "Moderate Buy" and a consensus target price of $4.88.

Insider Activity at Blend Labs

In related news, insider Nima Ghamsari sold 311,886 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $2.90, for a total value of $904,469.40. Following 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 at this hyperlink. Also, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $2.87, for a total value of $71,750.00. Following the transaction, the insider owned 696,598 shares in the company, valued at $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. Insiders sold 561,736 shares of company stock worth $1,739,383 over the last quarter. 35.52% of the stock is currently owned by company insiders.

Blend Labs Price Performance

Shares of BLND stock opened at $3.6750 on Monday. The business's 50 day simple moving average is $3.35 and its 200 day simple moving average is $3.43. Blend Labs, Inc. has a one year low of $2.63 and a one year high of $5.53. The stock has a market capitalization of $954.25 million, a PE ratio of -24.50 and a beta of 1.24.

Blend Labs (NYSE:BLND - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Blend Labs, Inc. will post -0.19 earnings per share for the current 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.

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