Clear Secure (NYSE:YOU) Sets New 1-Year High Following Analyst Upgrade

Shares of Clear Secure, Inc. (NYSE:YOU) hit a new 52-week high during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $40.00 to $45.00. Needham & Company LLC currently has a buy rating on the stock. Clear Secure traded as high as $37.71 and last traded at $37.71, with a volume of 5054 shares trading hands. The stock had previously closed at $37.35.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their target price on shares of Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $34.00 price target on shares of Clear Secure in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.20.

Insider Buying and Selling at Clear Secure

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the sale, the insider now owns 34,227 shares of the company’s stock, valued at approximately $755,732.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Dennis W. Liu sold 1,500 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $25.03, for a total transaction of $37,545.00. Following the completion of the sale, the chief accounting officer now owns 10,211 shares of the company’s stock, valued at $255,581.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard N. Jr. Patterson sold 7,500 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total transaction of $165,600.00. Following the sale, the insider now directly owns 34,227 shares of the company’s stock, valued at $755,732.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,173,935 shares of company stock valued at $36,826,532. Corporate insiders own 37.85% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Clear Secure by 11.7% during the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock worth $224,866,000 after acquiring an additional 1,111,330 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Clear Secure by 56.5% during the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock worth $55,271,000 after acquiring an additional 1,066,400 shares in the last quarter. Millennium Management LLC increased its position in shares of Clear Secure by 56.3% during the second quarter. Millennium Management LLC now owns 2,103,578 shares of the company’s stock worth $39,358,000 after acquiring an additional 757,528 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Clear Secure by 303.6% during the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock worth $22,445,000 after acquiring an additional 902,436 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Clear Secure by 278.3% during 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 last quarter. Institutional investors own 73.80% of the company’s stock.

Clear Secure Stock Down 0.1 %

The company’s fifty day moving average is $30.77 and its 200 day moving average is $22.97. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 47.83 and a beta of 1.65.

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

Clear Secure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Tuesday, September 10th. Clear Secure’s dividend payout ratio is presently 51.28%.

About Clear Secure

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.