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In a recent transaction, Haveli Investments, L.P. acquired a significant stake in Blend Labs , Inc. (NYSE:BLND), which has seen its stock rise 7.77% over the past week to $3.19. The acquisition involved the purchase of 587,149 shares of Class A common stock, with the total transaction amounting to approximately $1.79 million. The shares were bought at a weighted average price of $3.0501 per share, with prices ranging from $3.01 to $3.08. According to InvestingPro analysis, the company, now valued at $821 million, maintains strong liquidity with a current ratio of 3.47.
The transaction was carried out on March 6, 2025, and reported in a Form 4 filing with the Securities and Exchange Commission (SEC). Following this acquisition, Haveli Investments now holds 644,888 shares in Blend Labs. The shares are held indirectly through Haveli Brooks Aggregator, L.P., with various entities under the Haveli umbrella, including Haveli Investments Software (ETR:SOWGn) Fund I GP, LLC and Whanau Interests LLC, sharing voting and dispositive power over the securities. InvestingPro data indicates the stock is trading above its Fair Value, with analysts projecting profitability for the company in 2025.
Haveli Investments, along with its associated entities, is known for its strategic investments in technology companies. This latest move increases their stake in Blend Labs, a company specializing in software solutions for the financial services industry. For deeper insights into BLND’s valuation and growth prospects, 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 forecasted $41.38 million. The company also achieved non-GAAP operating profitability of $5.2 million, despite facing a challenging mortgage market. Furthermore, Blend Labs demonstrated positive free cash flow, although it remained negative at -$7.2 million, showing significant improvement from the previous year.
On the analyst front, Canaccord Genuity adjusted its price target for Blend Labs to $5.25 from $5.75, while maintaining a Buy rating, citing positive developments such as new partnerships and product expansions. UBS also revised its price target for Blend Labs, lowering it to $3.50 from $4.00, but maintained a Neutral rating following the company’s earnings report. Blend Labs has been expanding its product suite, including the introduction of new AI-driven financial solutions, and is seeing growing adoption of its commercial banking suite.
The company secured a new partnership with a top ten bank and terminated the Mr. Cooper put right on the Title business, which removed a potential obstacle for investors. Blend Labs is also focusing on innovation, such as its Rapids—Rapid Refi and Rapid Home Equity solutions, which are now in full production. These developments reflect Blend Labs’ strategic focus on broadening its offerings and strengthening its financial position.
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