Insider Selling: Blade Air Mobility, Inc. (NASDAQ:BLDE) General Counsel Sells 89,242 Shares of Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE) General Counsel Melissa M. Tomkiel sold 89,242 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $4.38, for a total value of $390,879.96. Following the transaction, the general counsel now owns 1,083,761 shares of the company’s stock, valued at approximately $4,746,873.18. This trade represents a 7.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Blade Air Mobility Stock Up 8.0 %

NASDAQ:BLDE opened at $4.74 on Monday. The company has a market cap of $371.21 million, a P/E ratio of -6.87 and a beta of 1.05. Blade Air Mobility, Inc. has a twelve month low of $2.45 and a twelve month high of $5.17. The business has a 50 day moving average price of $3.52 and a two-hundred day moving average price of $3.31.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price objective on Blade Air Mobility from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLDE. Tidal Investments LLC bought a new stake in Blade Air Mobility during the 1st quarter worth about $1,721,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Blade Air Mobility by 10.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock valued at $14,130,000 after acquiring an additional 381,308 shares during the last quarter. ARK Investment Management LLC raised its holdings in Blade Air Mobility by 12.0% during the third quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock worth $21,219,000 after acquiring an additional 774,114 shares in the last quarter. Virtu Financial LLC acquired a new position in Blade Air Mobility during the first quarter valued at approximately $171,000. Finally, Dimensional Fund Advisors LP grew its stake in Blade Air Mobility by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock valued at $3,264,000 after purchasing an additional 181,630 shares in the last quarter. Institutional investors own 47.36% of the company’s stock.

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.