ARK Investment Management LLC Buys 833,848 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

ARK Investment Management LLC raised its stake in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,051,099 shares of the company’s stock after acquiring an additional 833,848 shares during the quarter. ARK Investment Management LLC owned approximately 10.28% of Blade Air Mobility worth $34,217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Blade Air Mobility by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 138,561 shares of the company’s stock worth $589,000 after acquiring an additional 4,118 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Blade Air Mobility by 5.3% in the fourth quarter. Rhumbline Advisers now owns 140,779 shares of the company’s stock worth $598,000 after acquiring an additional 7,037 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Blade Air Mobility by 114.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 78,080 shares of the company’s stock worth $332,000 after acquiring an additional 41,720 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Blade Air Mobility by 30.0% in the fourth quarter. SG Americas Securities LLC now owns 22,970 shares of the company’s stock worth $98,000 after acquiring an additional 5,297 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Blade Air Mobility by 15.4% in the third quarter. Tidal Investments LLC now owns 655,616 shares of the company’s stock worth $1,928,000 after acquiring an additional 87,496 shares during the last quarter. Institutional investors own 47.36% of the company’s stock.

Blade Air Mobility Price Performance

Shares of NASDAQ BLDE opened at $3.48 on Wednesday. The company has a 50 day simple moving average of $3.98 and a 200 day simple moving average of $3.66. The firm has a market cap of $272.53 million, a PE ratio of -5.04 and a beta of 1.14. Blade Air Mobility, Inc. has a 1 year low of $2.45 and a 1 year high of $5.17.

Insider Activity at Blade Air Mobility

In related news, CFO William A. Heyburn sold 23,815 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $5.02, for a total value of $119,551.30. Following the completion of the transaction, the chief financial officer now owns 1,376,111 shares in the company, valued at $6,908,077.22. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Melissa M. Tomkiel sold 22,486 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.01, for a total transaction of $112,654.86. Following the completion of the transaction, the general counsel now owns 1,039,140 shares of the company’s stock, valued at approximately $5,206,091.40. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,391 shares of company stock worth $1,060,958 in the last quarter. 18.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their target price on shares of Blade Air Mobility from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th.

About Blade Air Mobility

Blade Air Mobility, Inc provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.