Sumitomo Mitsui Trust Group Inc. Sells 659,089 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,100,673 shares of the company’s stock after selling 659,089 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Blade Air Mobility were worth $13,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cobblestone Capital Advisors LLC NY bought a new stake in shares of Blade Air Mobility in the third quarter valued at approximately $35,000. SG Americas Securities LLC bought a new stake in Blade Air Mobility during the third quarter worth $52,000. Intech Investment Management LLC bought a new stake in Blade Air Mobility during the third quarter worth $52,000. Zacks Investment Management bought a new stake in Blade Air Mobility during the third quarter worth $89,000. Finally, Stifel Financial Corp lifted its stake in Blade Air Mobility by 18.9% during the third quarter. Stifel Financial Corp now owns 35,755 shares of the company’s stock worth $105,000 after purchasing an additional 5,683 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Blade Air Mobility news, CFO William A. Heyburn sold 103,670 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.02, for a total transaction of $520,423.40. Following the completion of the sale, the chief financial officer now directly owns 1,223,120 shares in the company, valued at $6,140,062.40. This represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Melissa M. Tomkiel sold 22,135 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $5.02, for a total value of $111,117.70. Following the completion of the transaction, the general counsel now owns 1,061,626 shares of the company’s stock, valued at $5,329,362.52. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 300,633 shares of company stock worth $1,451,838 over the last three months. Insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

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

Blade Air Mobility Price Performance

NASDAQ BLDE opened at $3.58 on Thursday. The business has a fifty day moving average price of $4.10 and a two-hundred day moving average price of $3.61. Blade Air Mobility, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $5.17. The stock has a market capitalization of $280.35 million, a PE ratio of -5.19 and a beta of 1.14.

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.