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

Sumitomo Mitsui Trust Group Inc. lowered its position in Blade Air Mobility, Inc. (NASDAQ:BLDE) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,759,762 shares of the company’s stock after selling 300,520 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Blade Air Mobility were worth $11,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in BLDE. CWM LLC lifted its stake in Blade Air Mobility by 764.5% in the second quarter. CWM LLC now owns 7,374 shares of the company’s stock valued at $26,000 after acquiring an additional 6,521 shares during the last quarter. Sei Investments Co. acquired a new stake in Blade Air Mobility in the second quarter valued at $38,000. EverSource Wealth Advisors LLC bought a new position in shares of Blade Air Mobility in the second quarter valued at about $40,000. 1620 Investment Advisors Inc. bought a new position in shares of Blade Air Mobility in the second quarter valued at about $50,000. Finally, SG Americas Securities LLC bought a new position in shares of Blade Air Mobility in the third quarter valued at about $52,000. Institutional investors and hedge funds own 47.36% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price objective 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

Shares of BLDE opened at $3.16 on Monday. The firm has a market capitalization of $246.26 million, a PE ratio of -4.58 and a beta of 1.05. The company’s 50-day moving average is $3.40 and its 200-day moving average is $3.30. Blade Air Mobility, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $4.24.

Insider Activity

In related news, CEO Robert S. Wiesenthal sold 2,100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,812,892 shares of the company’s stock, valued at approximately $15,497,512.24. This trade represents a 30.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Melissa M. Tomkiel sold 44,621 shares of the firm’s stock in a transaction dated 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 directly owns 1,173,003 shares in the company, valued at approximately $3,988,210.20. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,157,253 shares of company stock valued at $6,949,713 over the last ninety days. 17.50% of the stock is currently owned by company insiders.

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.