Blade Air Mobility, Inc. (NASDAQ:BLDE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,999,192 shares of the company's stock after selling 101,481 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 3.76% of Blade Air Mobility worth $8,188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Blade Air Mobility by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,522,790 shares of the company's stock worth $6,472,000 after purchasing an additional 218,985 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Blade Air Mobility by 46.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,081,180 shares of the company's stock worth $4,595,000 after buying an additional 342,250 shares during the period. Manatuck Hill Partners LLC purchased a new position in shares of Blade Air Mobility during the 4th quarter worth about $2,550,000. Russell Investments Group Ltd. raised its stake in Blade Air Mobility by 148.1% during the fourth quarter. Russell Investments Group Ltd. now owns 566,405 shares of the company's stock worth $2,407,000 after purchasing an additional 338,103 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in shares of Blade Air Mobility in the 4th quarter worth $2,278,000. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO William A. Heyburn sold 100,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $5,535,208.14. This trade represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Melissa M. Tomkiel sold 100,000 shares of Blade Air Mobility stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $4.08, for a total value of $408,000.00. Following the completion of the transaction, the general counsel owned 1,151,204 shares of the company's stock, valued at $4,696,912.32. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Blade Air Mobility Stock Performance

BLDE traded up $0.01 on Monday, reaching $4.19. 849,782 shares of the company's stock were exchanged, compared to its average volume of 729,091. Blade Air Mobility, Inc. has a twelve month low of $2.35 and a twelve month high of $5.17. The company's 50 day moving average is $3.59 and its 200-day moving average is $3.49. The company has a market cap of $339.47 million, a price-to-earnings ratio of -12.32 and a beta of 1.68.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. The company had revenue of $54.31 million during the quarter, compared to the consensus estimate 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 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.