Insider Selling: Blade Air Mobility, Inc. (NASDAQ:BLDE) General Counsel Sells 22,135 Shares of Stock

Blade Air Mobility, Inc. (NASDAQ:BLDE) General Counsel Melissa M. Tomkiel sold 22,135 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $5.02, for a total value of $111,117.70. Following the sale, the general counsel now owns 1,061,626 shares in the company, valued at $5,329,362.52. This trade represents a 2.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Blade Air Mobility Stock Performance

Shares of BLDE traded up $0.35 during trading hours on Friday, hitting $4.74. The stock had a trading volume of 2,375,670 shares, compared to its average volume of 688,351. The company’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $3.31. Blade Air Mobility, Inc. has a 12-month low of $2.45 and a 12-month high of $5.17. The firm has a market cap of $371.19 million, a P/E ratio of -6.87 and a beta of 1.05.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their target price 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

Several hedge funds have recently added to or reduced their stakes in BLDE. Tidal Investments LLC purchased a new stake in shares of Blade Air Mobility during the first quarter worth about $1,721,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Blade Air Mobility by 10.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,060,282 shares of the company’s stock worth $14,130,000 after acquiring an additional 381,308 shares during the last quarter. ARK Investment Management LLC increased its position in shares of 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 during the last quarter. Virtu Financial LLC purchased a new stake in shares of Blade Air Mobility during the first quarter worth about $171,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Blade Air Mobility by 24.0% during the second quarter. Dimensional Fund Advisors LP now owns 937,856 shares of the company’s stock worth $3,264,000 after acquiring an additional 181,630 shares during the last quarter. 47.36% of the stock is owned by hedge funds and other institutional investors.

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.