Blend Labs head Nima Ghamsari sells $24,660 in shares

Nima Ghamsari, the Head of Blend and a director at Blend Labs, Inc. (NASDAQ:BLND), sold 24,272 shares of the company's Class A Common Stock on October 5th, 2026. The sale amounted to $24,660, with each share costing between $1.00 and $1.04, and an average price of $1.016. Mr. Ghamsari had put this plan in motion on June 15, 2026, via a Rule 10b5-1 trading agreement. As of now, he still owns 7,803,566 shares of Blend Labs Class A Common Stock.

The sale of shares is taking place as Blend Labs' stock price is hovering near its 52-week low of $0.99, reflecting a 69% decrease over the past year. Despite the stock's undervaluation according to InvestingPro analysis, Blend Labs remains unprofitable over the last twelve months. However, analysts predict that the company will become profitable this year, which is one of several insights provided to subscribers, along with comprehensive Fair Value analysis and financial health metrics.

In other developments, Blend Labs reported a revenue of $33.83 million for the second quarter, which surpassed analysts' expectations of $33.17 million. This represents a 7% increase compared to the previous year. Moreover, the non-GAAP operating income of Blend Labs exceeded its guidance, reaching $7.0 million. Nonetheless, the company has faced some cautionary remarks and rising churn concerns, primarily due to challenges in the mortgage market. These factors have contributed to a significant drop in the company's shares after trading hours.

Investors are keeping a close eye on these developments to assess Blend Labs' future performance.