Entities linked to Brian N. Sheth, a director and 10% owner of Blend Labs (NASDAQ:BLND), purchased 777,178 shares of Class A Common Stock. The total investment was about $1.16 million.
Transactions occurred between May 19 and May 21, 2026. Prices ranged from $1.4875 to $1.50 per share.
The stock currently trades at $1.52, up 4.8% over the past week. However, shares are down 49.5% over six months. Bond.az analysis indicates BLND appears undervalued at current levels, with a market cap of $369 million.
Purchases were made over three days. On May 19, 583,450 shares were acquired at a weighted average price of $1.4875. On May 20, 185,611 shares were bought at $1.4982. The final purchase of 8,117 shares occurred on May 21 at $1.50.
Following these transactions, indirect holdings increased to 15,105,560 shares. The shares are held indirectly by Haveli Brooks Aggregator, L.P.
The company's management has been aggressively buying back shares. Analysts predict profitability this year despite a loss of $0.08 per share over the last twelve months.
Blend Labs reported Q1 2026 revenue of $30.8 million, beating estimates of $29.97 million. EPS from continuing operations was $0.00, in line with consensus.
