Blend Labs (NYSE:BLND) Shares Down 6.4% – Here’s What Happened

Blend Labs, Inc. (NYSE:BLND)’s share price dropped 6.4% during trading on Tuesday . The company traded as low as $3.14 and last traded at $3.1250. Approximately 1,392,311 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 2,070,604 shares. The stock had previously closed at $3.34.

Wall Street Analysts Forecast Growth

BLND has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Blend Labs in a research report on Wednesday, October 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.25 price objective on shares of Blend Labs in a report on Tuesday, October 28th. Wall Street Zen upgraded Blend Labs from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, UBS Group decreased their target price on Blend Labs from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Blend Labs currently has an average rating of “Hold” and a consensus target price of $4.80.

Blend Labs Price Performance

The stock has a market cap of $827.82 million, a PE ratio of -31.87 and a beta of 1.24. The stock’s fifty day moving average is $3.09 and its 200-day moving average is $3.37.

Insider Buying and Selling at Blend Labs

In other news, insider Brian Kneafsey sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $3.34, for a total transaction of $83,500.00. Following the completion of the sale, the insider owned 687,909 shares in the company, valued at $2,297,616.06. This trade represents a 3.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 35.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLND. ShawSpring Partners LLC grew its position in Blend Labs by 10.4% in the 3rd quarter. ShawSpring Partners LLC now owns 9,840,605 shares of the company’s stock valued at $35,918,000 after acquiring an additional 929,566 shares in the last quarter. Whitebark Investors LP boosted its stake in shares of Blend Labs by 14.7% in the third quarter. Whitebark Investors LP now owns 5,566,198 shares of the company’s stock valued at $20,317,000 after purchasing an additional 712,315 shares during the period. Mirabella Financial Services LLP grew its holdings in shares of Blend Labs by 64.5% in the third quarter. Mirabella Financial Services LLP now owns 2,643,777 shares of the company’s stock valued at $9,650,000 after purchasing an additional 1,036,777 shares in the last quarter. Marshall Wace LLP increased its stake in Blend Labs by 157.6% during the 2nd quarter. Marshall Wace LLP now owns 2,522,141 shares of the company’s stock worth $8,323,000 after buying an additional 1,543,220 shares during the period. Finally, Prospect Capital Advisors LLC increased its stake in Blend Labs by 338.2% during the 3rd quarter. Prospect Capital Advisors LLC now owns 1,820,150 shares of the company’s stock worth $6,644,000 after buying an additional 1,404,750 shares during the period. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

About Blend Labs

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.