Divisadero Street Capital Management LP Sells 1,392,275 Shares of Blend Labs, Inc. $BLND

Divisadero Street Capital Management LP trimmed its position in shares of Blend Labs, Inc. (NYSE:BLND) by 25.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,113,247 shares of the company’s stock after selling 1,392,275 shares during the quarter. Divisadero Street Capital Management LP’s holdings in Blend Labs were worth $15,013,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of Blend Labs in the 2nd quarter worth approximately $35,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Blend Labs during the second quarter valued at approximately $37,000. Savvy Advisors Inc. acquired a new stake in Blend Labs in the third quarter valued at approximately $37,000. Jump Financial LLC acquired a new stake in Blend Labs in the second quarter valued at approximately $38,000. Finally, Quadrature Capital Ltd purchased a new position in Blend Labs in the second quarter worth $40,000. 52.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $3.06, for a total value of $76,500.00. Following the transaction, the insider directly owned 649,824 shares of the company’s stock, valued at approximately $1,988,461.44. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 33,125 shares of company stock valued at $93,169 over the last quarter. 35.52% of the stock is currently owned by corporate insiders.

Blend Labs Trading Down 4.0%

NYSE:BLND opened at $1.55 on Monday. The company has a market capitalization of $401.31 million, a P/E ratio of -15.45 and a beta of 1.27. Blend Labs, Inc. has a 12 month low of $1.54 and a 12 month high of $4.49. The firm has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $2.98.

Blend Labs (NYSE:BLND) last released its earnings results on Tuesday, March 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $32.37 million during the quarter, compared to analysts’ expectations of $31.78 million. Equities analysts forecast that Blend Labs, Inc. will post -0.19 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Blend Labs from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Wednesday, March 11th. Citizens Jmp reduced their target price on Blend Labs from $7.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Wednesday, March 11th. UBS Group decreased their price target on Blend Labs from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Blend Labs in a report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.13.

Blend Labs Profile

Blend Labs, Inc operates as a financial technology company that offers a digital consumer banking platform designed to simplify and automate the lending and account opening processes for banks and credit unions. Its cloud-native software enables financial institutions to deliver a more seamless customer experience by consolidating multiple steps—such as application intake, identity verification, document collection and underwriting—into a unified digital workflow. Blend’s platform is built to integrate with existing core banking systems and third-party data providers, allowing clients to accelerate loan origination and deposit account opening while maintaining compliance and security standards.

The company’s product suite includes solutions for mortgage origination, home equity lending, consumer personal lending and deposit account opening.