Sumitomo Mitsui Trust Group Inc. Sells 101,481 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,999,192 shares of the company’s stock after selling 101,481 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 3.76% of Blade Air Mobility worth $8,188,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Blade Air Mobility by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,522,790 shares of the company’s stock worth $6,472,000 after buying an additional 218,985 shares during the period. Nuveen Asset Management LLC lifted its position in Blade Air Mobility by 46.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,081,180 shares of the company’s stock worth $4,595,000 after purchasing an additional 342,250 shares during the period. Manatuck Hill Partners LLC acquired a new stake in Blade Air Mobility during the fourth quarter worth $2,550,000. Russell Investments Group Ltd. increased its holdings in Blade Air Mobility by 148.1% in the 4th quarter. Russell Investments Group Ltd. now owns 566,405 shares of the company’s stock valued at $2,407,000 after buying an additional 338,103 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in shares of Blade Air Mobility in the 4th quarter valued at $2,278,000. 47.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Blade Air Mobility news, General Counsel Melissa M. Tomkiel sold 100,000 shares of Blade Air Mobility stock in a transaction on Monday, June 9th. The stock was sold at an average price of $4.08, for a total transaction of $408,000.00. Following the completion of the transaction, the general counsel directly owned 1,151,204 shares of the company’s stock, valued at approximately $4,696,912.32. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William A. Heyburn sold 100,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $4.07, for a total transaction of $407,000.00. Following the completion of the sale, the chief financial officer owned 1,360,002 shares in the company, valued at $5,535,208.14. This represents a 6.85% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.50% of the company’s stock.

Blade Air Mobility Stock Performance

NASDAQ:BLDE opened at $4.20 on Friday. The company has a 50-day moving average of $3.53 and a 200-day moving average of $3.49. Blade Air Mobility, Inc. has a 52 week low of $2.35 and a 52 week high of $5.17. The company has a market capitalization of $339.87 million, a price-to-earnings ratio of -12.34 and a beta of 1.68.

Blade Air Mobility (NASDAQ:BLDE) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $54.31 million during the quarter, compared to analyst estimates of $49.30 million. Blade Air Mobility had a negative net margin of 10.56% and a negative return on equity of 8.80%. Sell-side analysts forecast that Blade Air Mobility, Inc. will post -0.35 EPS for the current year.

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.