Panoramic Capital LLC Has $1.86 Million Holdings in Blend Labs, Inc. $BLND

Key Points

• Panoramic Capital LLC sold 121,247 shares of Blend Labs, decreasing its holdings by 18%, resulting in a total of 554,090 shares owned, which represents about 2% of its portfolio.
• Several hedge funds made new investments in Blend Labs during the first quarter, indicating growing institutional interest, with institutional investors collectively owning approximately 52.56% of the company.
• Blend Labs recently missed earnings estimates with a reported EPS of (0.03) for the quarter, while analysts have mixed ratings on the stock with an average target price of $4.88.

Panoramic Capital LLC lessened its holdings in Blend Labs, Inc. (NYSE:BLND - Free Report) by 18.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 554,090 shares of the company's stock after selling 121,247 shares during the period. Blend Labs comprises 2.0% of Panoramic Capital LLC's holdings, making the stock its 18th biggest holding. Panoramic Capital LLC owned approximately 0.21% of Blend Labs worth $1,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BLND. Merit Financial Group LLC bought a new stake in shares of Blend Labs during the 1st quarter valued at approximately $36,000. Crescent Park Management L.P. acquired a new stake in Blend Labs in the first quarter valued at approximately $43,000. Balyasny Asset Management L.P. bought a new stake in shares of Blend Labs during the fourth quarter worth $46,000. Pallas Capital Advisors LLC bought a new position in shares of Blend Labs in the 1st quarter valued at $51,000. Finally, Summit Securities Group LLC bought a new stake in Blend Labs during the 1st quarter worth $61,000. Institutional investors own 52.56% of the company's stock.

Blend Labs Stock Up 5.1%

BLND traded up $0.21 during trading on Thursday, reaching $4.34. 3,227,614 shares of the stock traded hands, compared to its average volume of 2,945,492. The stock's 50-day moving average is $3.48 and its 200 day moving average is $3.42. Blend Labs, Inc. has a 12 month low of $2.63 and a 12 month high of $5.53. The stock has a market capitalization of $1.13 billion, a PE ratio of -28.93 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 for the quarter, missing the consensus estimate 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. As a group, equities research analysts anticipate that Blend Labs, Inc. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Nima Ghamsari sold 311,886 shares of the firm'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 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 filing with the SEC, which is available through this link. Also, insider Brian Kneafsey sold 25,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $2.87, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 517,606 shares of company stock worth $1,584,045 over the last 90 days. Company insiders own 35.52% of the company's stock.

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.