JPMorgan Chase & Co. Sells 195,163 Shares of Blade Air Mobility, Inc. (NASDAQ:BLDE)

JPMorgan Chase & Co. trimmed its position in shares of Blade Air Mobility, Inc. (NASDAQ:BLDE) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 721,079 shares of the company’s stock after selling 195,163 shares during the period. JPMorgan Chase & Co. owned about 0.92% of Blade Air Mobility worth $2,120,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its holdings in Blade Air Mobility by 12.0% during the 3rd quarter. ARK Investment Management LLC now owns 7,217,251 shares of the company’s stock valued at $21,219,000 after purchasing an additional 774,114 shares during the last quarter. Geode Capital Management LLC grew its holdings in Blade Air Mobility by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,375,295 shares of the company’s stock valued at $4,044,000 after purchasing an additional 52,274 shares during the last quarter. State Street Corp grew its holdings in Blade Air Mobility by 2.5% during the 3rd quarter. State Street Corp now owns 1,280,842 shares of the company’s stock valued at $3,766,000 after purchasing an additional 31,313 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Blade Air Mobility by 24.0% during the 2nd 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 during the last quarter. Finally, Tidal Investments LLC grew its holdings in Blade Air Mobility by 15.4% during the 3rd quarter. Tidal Investments LLC now owns 655,616 shares of the company’s stock valued at $1,928,000 after purchasing an additional 87,496 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors.

Blade Air Mobility Price Performance

Blade Air Mobility stock opened at $4.17 on Wednesday. The stock has a market cap of $326.55 million, a price-to-earnings ratio of -6.04 and a beta of 1.14. Blade Air Mobility, Inc. has a 1 year low of $2.45 and a 1 year high of $5.17. The firm has a 50-day moving average of $4.09 and a two-hundred day moving average of $3.58.

Analysts Set New Price Targets

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

Insider Transactions at Blade Air Mobility

In other news, General Counsel Melissa M. Tomkiel sold 44,621 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $3.40, for a total value of $151,711.40. Following the completion of the sale, the general counsel now owns 1,173,003 shares of the company’s stock, valued at approximately $3,988,210.20. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William A. Heyburn sold 23,815 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $5.02, for a total transaction of $119,551.30. Following the completion of the sale, the chief financial officer now directly owns 1,376,111 shares of the company’s stock, valued at $6,908,077.22. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,445,254 shares of company stock valued at $8,365,549. Company insiders own 18.00% 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.