Sumitomo Mitsui Trust Group Inc. Has $11.05 Million Stake in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,759,762 shares of the company’s stock after selling 300,520 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 4.82% of Blade Air Mobility worth $11,054,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. ARK Investment Management LLC grew its holdings in Blade Air Mobility by 12.0% during the third quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock valued at $21,219,000 after purchasing an additional 774,114 shares during the period. AWM Investment Company Inc. grew its holdings in Blade Air Mobility by 53.8% during the first quarter. AWM Investment Company Inc. now owns 2,136,378 shares of the company’s stock valued at $6,089,000 after purchasing an additional 747,743 shares during the period. Tidal Investments LLC acquired a new position in Blade Air Mobility during the first quarter valued at approximately $1,721,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Blade Air Mobility by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after purchasing an additional 381,308 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Blade Air Mobility by 245.6% during the third quarter. GSA Capital Partners LLP now owns 378,240 shares of the company’s stock valued at $1,112,000 after purchasing an additional 268,802 shares during the period. Institutional investors and hedge funds own 47.36% of the company’s stock.

Insider Buying and Selling at Blade Air Mobility

In related news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $3.22, for a total transaction of $6,762,000.00. Following the completion of the transaction, the chief executive officer now owns 4,812,892 shares in the company, valued at approximately $15,497,512.24. This represents a 30.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Melissa M. Tomkiel sold 44,621 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $3.40, for a total transaction of $151,711.40. Following the transaction, the general counsel now owns 1,173,003 shares of the company’s stock, valued at $3,988,210.20. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,157,253 shares of company stock valued at $6,949,713. 17.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Blade Air Mobility Stock Performance

Shares of BLDE opened at $3.16 on Monday. Blade Air Mobility, Inc. has a twelve month low of $2.45 and a twelve month high of $4.24. The firm’s 50 day moving average price is $3.40 and its two-hundred day moving average price is $3.30. The firm has a market cap of $246.26 million, a P/E ratio of -4.58 and a beta of 1.05.

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.