Perigon Wealth Management LLC Takes $1.71 Million Position in Blend Labs, Inc. $BLND

Key Points

• Perigon Wealth Management LLC has purchased a new stake in Blend Labs, buying 518,885 shares valued at approximately $1.7 million, amounting to about 0.20% ownership of the company.
• Blend Labs reported a loss of $0.03 per share in its latest earnings, missing the consensus estimate by $0.05, with revenue of $31.52 million against expectations of $31.93 million.
• Analyst ratings for Blend Labs include one Strong Buy, four Buy, and two Hold ratings, with a consensus price target of $4.88.

Perigon Wealth Management LLC bought a new stake in Blend Labs, Inc. (NYSE:BLND - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 518,885 shares of the company's stock, valued at approximately $1,712,000. Perigon Wealth Management LLC owned approximately 0.20% of Blend Labs as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Blend Labs by 4.6% in the first quarter. Vanguard Group Inc. now owns 17,586,601 shares of the company's stock valued at $58,915,000 after purchasing an additional 775,091 shares in the last quarter. Metavasi Capital LP lifted its holdings in shares of Blend Labs by 15.6% in the first quarter. Metavasi Capital LP now owns 5,554,101 shares of the company's stock valued at $18,606,000 after purchasing an additional 750,000 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Blend Labs by 28.2% in the first quarter. EdgePoint Investment Group Inc. now owns 3,318,924 shares of the company's stock valued at $11,118,000 after purchasing an additional 729,512 shares in the last quarter. Next Century Growth Investors LLC lifted its holdings in Blend Labs by 1.6% during the first quarter. Next Century Growth Investors LLC now owns 1,521,648 shares of the company's stock worth $5,098,000 after acquiring an additional 23,777 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Blend Labs by 36.0% in the first quarter. Acadian Asset Management LLC now owns 1,430,949 shares of the company's stock worth $4,788,000 after purchasing an additional 378,667 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Blend Labs Price Performance

Shares of BLND opened at $3.76 on Friday. The firm has a market cap of $975.02 million, a PE ratio of -25.03 and a beta of 1.25. The stock's fifty day moving average price is $3.61 and its two-hundred day moving average price is $3.48. Blend Labs, Inc. has a 1 year low of $2.63 and a 1 year high of $5.53.

Blend Labs (NYSE:BLND - Get Free Report) last issued its 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 business 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. Sell-side analysts anticipate that Blend Labs, Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Blend Labs

In related news, insider Brian Kneafsey sold 25,000 shares of the business's stock in a transaction 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 directly owned 696,598 shares in the company, valued at approximately $1,999,236.26. The trade was a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nima Ghamsari sold 311,886 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $2.90, for a total value of $904,469.40. Following the sale, the insider owned 5,754,051 shares in the company, valued at approximately $16,686,747.90. The trade was a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 421,886 shares of company stock worth $1,270,769. Corporate insiders own 35.52% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on BLND. 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. Keefe, Bruyette & Woods cut their price objective on 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. UBS Group cut their price objective on Blend Labs from $4.00 to $3.50 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen raised Blend Labs from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. One 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.com, Blend Labs presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.88.

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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