Nuveen LLC Takes Position in Blend Labs, Inc. $BLND

Key Points

• Nuveen LLC has acquired a new stake in Blend Labs, Inc. valued at approximately $1.48 million, holding about 0.17% of the company's stock as of its latest SEC filing.
• In recent insider trading, Brian Kneafsey and Nima Ghamsari sold substantial shares of Blend Labs, decreasing their positions by 3.46% and 5.14%, respectively.
• Shares of Blend Labs opened at $3.61 and were subject to varying analyst ratings, with a current average price target of $4.88 suggesting a moderately optimistic outlook.

Nuveen LLC acquired a new stake in shares of Blend Labs, Inc. (NYSE:BLND - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 440,629 shares of the company's stock, valued at approximately $1,476,000. Nuveen LLC owned 0.17% of Blend Labs as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Merit Financial Group LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at $36,000. Balyasny Asset Management L.P. bought a new stake in shares of Blend Labs during the 4th quarter valued at $46,000. Pallas Capital Advisors LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at $51,000. Cerity Partners LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at $62,000. Finally, Castleview Partners LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at $64,000. 52.56% of the stock is currently owned by institutional investors.

Insider Transactions at Blend Labs

In other news, 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 value of $71,750.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nima Ghamsari sold 311,886 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 5,754,051 shares of the company's stock, valued at approximately $16,686,747.90. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,736 shares of company stock valued at $1,739,383 over the last quarter. Company insiders own 35.52% of the company's stock.

Blend Labs Trading Up 6.3%

Shares of BLND traded up $0.22 during midday trading on Thursday, reaching $3.64. The stock had a trading volume of 1,669,195 shares, compared to its average volume of 2,876,681. The company's 50-day moving average is $3.40 and its 200 day moving average is $3.41. Blend Labs, Inc. has a 12-month low of $2.63 and a 12-month high of $5.53. The company has a market capitalization of $943.87 million, a price-to-earnings ratio of -24.23 and a beta of 1.25.

Blend Labs (NYSE:BLND - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The firm had revenue of $31.52 million during the quarter, compared to analysts' expectations of $31.93 million. Blend Labs has set its Q3 2025 guidance at EPS. Research analysts forecast that Blend Labs, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on BLND shares. JMP Securities restated a "market outperform" rating and set a $7.00 target price on shares of Blend Labs in a research report on Wednesday, May 28th. The Goldman Sachs Group reduced their target price on Blend Labs from $5.60 to $4.80 and set a "buy" rating for the company in a research report on Monday, May 12th. Keefe, Bruyette & Woods reduced their target price on 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. Wall Street Zen upgraded Blend Labs from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $5.25 target price on shares of Blend Labs in a research report on Friday, August 22nd. One research 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 company's stock. According to data from MarketBeat, Blend Labs presently has a consensus rating of "Moderate Buy" and an average price target of $4.88.

Blend Labs Company 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.