Sumitomo Mitsui Trust Group Inc. Has $8.19 Million Stock Holdings in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,999,192 shares of the company's stock after selling 101,481 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 3.76% of Blade Air Mobility worth $8,188,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Blade Air Mobility in the fourth quarter valued at approximately $34,000. Virtu Financial LLC acquired a new stake in shares of Blade Air Mobility in the fourth quarter valued at approximately $53,000. Sunbelt Securities Inc. lifted its position in shares of Blade Air Mobility by 66,255.0% in the fourth quarter. Sunbelt Securities Inc. now owns 13,271 shares of the company's stock valued at $58,000 after buying an additional 13,251 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Blade Air Mobility in the fourth quarter valued at approximately $62,000. Finally, ProShare Advisors LLC lifted its position in shares of Blade Air Mobility by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 16,341 shares of the company's stock valued at $69,000 after buying an additional 5,377 shares during the last quarter. 47.36% of the stock is owned by institutional investors and hedge funds.

Blade Air Mobility Trading Up 1.6%

Shares of BLDE traded up $0.07 during mid-day trading on Friday, reaching $4.20. The company's stock had a trading volume of 300,524 shares, compared to its average volume of 728,585. The stock has a market cap of $339.88 million, a P/E ratio of -12.34 and a beta of 1.68. The business has a 50-day simple moving average of $3.56 and a two-hundred day simple moving average of $3.49. Blade Air Mobility, Inc. has a 1-year low of $2.35 and a 1-year high of $5.17.

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

Insider Activity at Blade Air Mobility

In related news, General Counsel Melissa M. Tomkiel sold 100,000 shares of Blade Air Mobility stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William A. Heyburn sold 100,000 shares of Blade Air Mobility stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $4.07, for a total value of $407,000.00. Following the sale, the chief financial officer directly owned 1,360,002 shares of the company's stock, valued at approximately $5,535,208.14. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.50% of the company's stock.

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.