Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,759,762 shares of the company's stock after selling 300,520 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 4.82% of Blade Air Mobility worth $11,054,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BLDE. CWM LLC increased its position in shares of Blade Air Mobility by 764.5% in the second quarter. CWM LLC now owns 7,374 shares of the company's stock worth $26,000 after purchasing an additional 6,521 shares during the last quarter. Sei Investments Co. bought a new position in Blade Air Mobility during the second quarter valued at approximately $38,000. EverSource Wealth Advisors LLC bought a new position in Blade Air Mobility during the second quarter valued at approximately $40,000. 1620 Investment Advisors Inc. bought a new position in Blade Air Mobility during the second quarter valued at approximately $50,000. Finally, SG Americas Securities LLC bought a new position in Blade Air Mobility during the third quarter valued at approximately $52,000. 47.36% of the stock is currently owned by institutional investors.

Insider Transactions at Blade Air Mobility

In related news, General Counsel Melissa M. Tomkiel sold 44,621 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $3.40, for a total value of $151,711.40. Following the completion of the sale, the general counsel now owns 1,173,003 shares of the company's stock, valued at $3,988,210.20. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert S. Wiesenthal sold 2,100,000 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $3.22, for a total value of $6,762,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,812,892 shares of the company's stock, valued at $15,497,512.24. The trade was a 30.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,157,253 shares of company stock worth $6,949,713. Insiders own 17.50% of the company's stock.

Analyst Upgrades and Downgrades

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

Blade Air Mobility Price Performance

NASDAQ BLDE traded down $0.06 on Monday, reaching $3.10. 558,059 shares of the company's stock traded hands, compared to its average volume of 650,034. Blade Air Mobility, Inc. has a 12 month low of $2.45 and a 12 month high of $4.24. The stock has a market cap of $241.58 million, a PE ratio of -4.49 and a beta of 1.05. The stock has a 50-day simple moving average of $3.41 and a 200 day simple moving average of $3.29.

Blade Air Mobility Company Profile

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.