Sumitomo Mitsui Trust Holdings Inc. Reduces Position in Blade Air Mobility, Inc. (NASDAQ:BLDE)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,974,292 shares of the company’s stock after selling 285,969 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 5.33% of Blade Air Mobility worth $14,029,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Blade Air Mobility by 223.3% during 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. Brandywine Global Investment Management LLC boosted its position in Blade Air Mobility by 2.0% in the third quarter. Brandywine Global Investment Management LLC now owns 535,900 shares of the company’s stock worth $1,388,000 after purchasing an additional 10,300 shares during the last quarter. Pathstone Family Office LLC purchased a new position in Blade Air Mobility in the third quarter worth about $36,000. Caprock Group LLC purchased a new position in Blade Air Mobility in the fourth quarter worth about $109,000. Finally, Raymond James & Associates purchased a new position in Blade Air Mobility in the third quarter worth about $1,230,000. 47.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blade Air Mobility news, CFO William A. Heyburn sold 26,632 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $2.62, for a total value of $69,775.84. Following the transaction, the chief financial officer now directly owns 1,355,020 shares of the company’s stock, valued at $3,550,152.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Melissa M. Tomkiel sold 26,191 shares of Blade Air Mobility stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $2.76, for a total transaction of $72,287.16. Following the transaction, the general counsel now directly owns 1,256,179 shares of the company’s stock, valued at approximately $3,467,054.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William A. Heyburn sold 26,632 shares of Blade Air Mobility stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $2.62, for a total value of $69,775.84. Following the transaction, the chief financial officer now directly owns 1,355,020 shares in the company, valued at $3,550,152.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,293 shares of company stock valued at $592,090. Insiders own 17.50% of the company’s stock.

Blade Air Mobility Stock Performance

Shares of NASDAQ:BLDE opened at $3.15 on Tuesday. The stock has a market capitalization of $237.61 million, a price-to-earnings ratio of -4.14 and a beta of 1.16. The stock’s 50-day simple moving average is $3.26 and its two-hundred 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.

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