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Blend Labs , Inc. (NYSE:BLND) recently witnessed a significant stock acquisition by Haveli Investments, L.P., and its associated entities. On March 10, 2025, Haveli Brooks Aggregator, L.P., under the broader Haveli group, purchased 1,062,317 shares of Blend Labs’ Class A common stock. The shares were acquired at a weighted average price of $3.0888, with transaction prices ranging from $3.045 to $3.10 per share. This purchase amounted to a total value of approximately $3.28 million. The stock currently trades at $3.69, representing a notable increase from the acquisition price. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 3.47x.
Following the transaction, Haveli Brooks Aggregator, L.P. holds a total of 3,123,242 shares. The acquisition was made under indirect ownership, with Haveli Investments Software (ETR:SOWGn) Fund I GP, LLC, Whanau Interests LLC, and other associated entities sharing voting and dispositive power. Notably, these entities are under the management of Brian N. Sheth, who plays a key role in the group’s investment decisions. With a market capitalization of $961.7 million, Blend Labs has caught analysts’ attention, with a consensus recommendation of 1.86 indicating a positive outlook.
This transaction highlights the Haveli group’s continued interest and investment in Blend Labs, a company specializing in computer programming and data processing services. While currently unprofitable, InvestingPro analysis suggests the company could turn profitable this year, with analysts forecasting positive earnings. For deeper insights into Blend Labs’ financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Blend Labs reported a 15% year-over-year increase in total revenue for the fourth quarter of 2024, reaching $41.4 million, slightly surpassing the forecast of $41.38 million. The company achieved non-GAAP operating profitability of $5.2 million, while its free cash flow improved significantly but remained negative at -$7.2 million. Canaccord Genuity adjusted its price target for Blend Labs shares, reducing it to $5.25 from $5.75 but maintained a Buy rating, noting the company’s new partnerships and product expansions. UBS also revised its price target for Blend Labs, lowering it to $3.50 from $4.00, while maintaining a Neutral rating. Blend Labs has been actively broadening its product suite, including the introduction of Rapids—Rapid Refi and Rapid Home Equity—which are anticipated to benefit the company and its clients. Additionally, the company has demonstrated positive free cash flow in its profit and loss statement, a trend expected to continue. Blend Labs has expanded its partnership with Leader Bank, utilizing its platform to streamline the bank’s mortgage lending process.
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