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

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,974,292 shares of the company's stock after selling 285,969 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 5.33% of Blade Air Mobility worth $14,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new stake in Blade Air Mobility in the third quarter valued at about $1,230,000. Barclays PLC raised its stake in Blade Air Mobility by 223.3% in the third quarter. Barclays PLC now owns 136,311 shares of the company's stock valued at $353,000 after buying an additional 94,149 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Blade Air Mobility by 152.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,145 shares of the company's stock valued at $143,000 after buying an additional 33,258 shares during the last quarter. Caprock Group LLC purchased a new stake in Blade Air Mobility in the fourth quarter valued at about $109,000. Finally, Cerity Partners LLC raised its stake in Blade Air Mobility by 8.1% in the fourth quarter. Cerity Partners LLC now owns 402,662 shares of the company's stock valued at $1,421,000 after buying an additional 30,000 shares during the last quarter. Institutional investors own 47.36% of the company's stock.

Insider Transactions at Blade Air Mobility

In other news, CEO Robert S. Wiesenthal sold 68,387 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $2.76, for a total value of $188,748.12. Following the completion of the transaction, the chief executive officer now directly owns 7,241,843 shares in the company, valued at $19,987,486.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Robert S. Wiesenthal sold 68,387 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $2.76, for a total value of $188,748.12. Following the completion of the transaction, the chief executive officer now directly owns 7,241,843 shares in the company, valued at $19,987,486.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Melissa M. Tomkiel sold 26,191 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $2.76, for a total value of $72,287.16. Following the completion of the transaction, the general counsel now owns 1,256,179 shares of the company's stock, valued at $3,467,054.04. The disclosure for this sale can be found here. Insiders sold a total of 202,293 shares of company stock worth $592,090 over the last three months. 18.00% of the stock is currently owned by insiders.

Blade Air Mobility Price Performance

Blade Air Mobility stock traded up $0.04 during midday trading on Tuesday, reaching $3.19. The company's stock had a trading volume of 561,986 shares, compared to its average volume of 865,100. The stock's 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.07. Blade Air Mobility, Inc. has a 52-week low of $2.06 and a 52-week high of $4.54. The stock has a market capitalization of $240.62 million, a P/E ratio of -4.20 and a beta of 1.16.

Blade Air Mobility (NASDAQ:BLDE - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.10). Blade Air Mobility had a negative net margin of 24.90% and a negative return on equity of 13.71%. The business had revenue of $47.48 million during the quarter, compared to analysts' expectations of $48.70 million. As a group, equities research analysts expect that Blade Air Mobility, Inc. will post -0.22 earnings per share for the current fiscal 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.