Clear Secure, Inc. (NYSE:YOU) CFO Sells $8,075,000.00 in Stock

Clear Secure, Inc. (NYSE:YOU) CFO Kenneth L. Cornick sold 250,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clear Secure Price Performance

YOU stock opened at $32.85 on Friday. Clear Secure, Inc. has a 1 year low of $15.28 and a 1 year high of $33.85. The company has a market cap of $4.76 billion, a P/E ratio of 58.66 and a beta of 1.65. The firm has a 50-day moving average of $25.99 and a 200 day moving average of $21.16.

Clear Secure (NYSE:YOU) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The company had revenue of $186.75 million during the quarter, compared to the consensus estimate of $183.78 million. During the same period in the prior year, the firm earned $0.05 earnings per share. Clear Secure’s revenue was up 24.6% on a year-over-year basis. On average, equities research analysts expect that Clear Secure, Inc. will post 1.01 earnings per share for the current fiscal year.

Clear Secure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 10th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, September 10th. Clear Secure’s dividend payout ratio (DPR) is presently 71.43%.

Wall Street Analysts Forecast Growth

YOU has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Clear Secure in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 target price on shares of Clear Secure in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.20.

Institutional Investors Weigh In On Clear Secure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Clear Secure by 11.7% in the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock worth $224,866,000 after purchasing an additional 1,111,330 shares during the period. Renaissance Technologies LLC grew its holdings in Clear Secure by 56.5% in the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock worth $55,271,000 after purchasing an additional 1,066,400 shares during the period. Millennium Management LLC grew its holdings in Clear Secure by 56.3% in the second quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after purchasing an additional 757,528 shares during the period. Rice Hall James & Associates LLC grew its holdings in Clear Secure by 303.6% in the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock worth $22,445,000 after purchasing an additional 902,436 shares during the period. Finally, Marshall Wace LLP grew its holdings in Clear Secure by 278.3% in the second quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock worth $20,563,000 after purchasing an additional 808,515 shares during the period. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Clear Secure Company Profile

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.