JPMorgan Chase & Co. Sells 26,129 Shares of Clear Secure, Inc. (NYSE:YOU)

JPMorgan Chase & Co. reduced its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,673,597 shares of the company’s stock after selling 26,129 shares during the quarter. JPMorgan Chase & Co. owned 1.20% of Clear Secure worth $55,463,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Clear Secure during the 3rd quarter valued at about $62,950,000. FMR LLC boosted its stake in shares of Clear Secure by 30.6% during the third quarter. FMR LLC now owns 6,598,424 shares of the company’s stock valued at $218,672,000 after purchasing an additional 1,547,692 shares during the period. State Street Corp grew its holdings in shares of Clear Secure by 64.1% in the third quarter. State Street Corp now owns 3,360,945 shares of the company’s stock worth $111,381,000 after purchasing an additional 1,312,419 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 1,066,400 shares during the period. Finally, Rice Hall James & Associates LLC raised its holdings in Clear Secure by 303.6% during the 2nd quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock valued at $22,445,000 after buying an additional 902,436 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of Clear Secure in a research report on Monday, December 16th. Wedbush reaffirmed a “neutral” rating and set a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Telsey Advisory Group increased their price objective on Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Clear Secure presently has an average rating of “Moderate Buy” and an average target price of $35.20.

Insiders Place Their Bets

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 37.85% of the company’s stock.

Clear Secure Stock Performance

YOU stock opened at $27.27 on Friday. Clear Secure, Inc. has a fifty-two week low of $16.05 and a fifty-two week high of $38.88. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 31.71 and a beta of 1.43. The business’s 50 day moving average price is $28.38 and its two-hundred day moving average price is $27.39.

Clear Secure (NYSE:YOU) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The firm had revenue of $198.40 million during the quarter, compared to the consensus estimate of $194.62 million. During the same quarter last year, the company posted $0.20 EPS. Clear Secure’s revenue for the quarter was up 23.7% compared to the same quarter last year. Sell-side analysts forecast that Clear Secure, Inc. will post 0.98 earnings per share for the current year.

Clear Secure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.50 annualized dividend and a yield of 1.83%. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s payout ratio is presently 58.14%.

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.