Norges Bank Makes New $29.50 Million Investment in CLEAR Secure, Inc. $YOU

Norges Bank acquired a new position in shares of CLEAR Secure, Inc. (NYSE:YOU) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 840,944 shares of the company’s stock, valued at approximately $29,500,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Durable Capital Partners LP boosted its holdings in CLEAR Secure by 153.1% during the 2nd quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock valued at $207,932,000 after acquiring an additional 4,531,161 shares during the period. First Trust Advisors LP raised its position in shares of CLEAR Secure by 1.2% during the 3rd quarter. First Trust Advisors LP now owns 3,063,062 shares of the company’s stock worth $102,245,000 after acquiring an additional 35,304 shares in the last quarter. Wellington Management Group LLP raised its position in shares of CLEAR Secure by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,489,607 shares of the company’s stock worth $83,103,000 after acquiring an additional 139,048 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CLEAR Secure by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,453,137 shares of the company’s stock worth $86,069,000 after acquiring an additional 20,419 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of CLEAR Secure by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,633,346 shares of the company’s stock worth $42,320,000 after acquiring an additional 430,035 shares in the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

CLEAR Secure Stock Performance

YOU opened at $53.18 on Wednesday. The business’s fifty day moving average is $54.99 and its two-hundred day moving average is $44.09. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 42.88 and a beta of 1.08. CLEAR Secure, Inc. has a one year low of $24.06 and a one year high of $62.73.

CLEAR Secure (NYSE:YOU) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. CLEAR Secure had a return on equity of 68.98% and a net margin of 13.01%.The business had revenue of $253.00 million for the quarter, compared to the consensus estimate of $244.38 million. During the same period in the prior year, the business earned $0.26 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. On average, analysts predict that CLEAR Secure, Inc. will post 1.78 EPS for the current fiscal year.

CLEAR Secure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, June 10th. CLEAR Secure’s dividend payout ratio is currently 48.39%.

Insider Activity

In other news, President Michael Z. Barkin sold 11,550 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $56.29, for a total value of $650,149.50. Following the sale, the president directly owned 22,994 shares in the company, valued at $1,294,332.26. This represents a 33.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kyle Mclaughlin sold 8,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $56.20, for a total value of $449,600.00. Following the completion of the sale, the executive vice president owned 29,519 shares in the company, valued at $1,658,967.80. This represents a 21.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,962 shares of company stock worth $1,360,146 over the last three months. 39.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on YOU shares. Wall Street Zen raised CLEAR Secure from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. lifted their price target on CLEAR Secure from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Telsey Advisory Group boosted their target price on CLEAR Secure from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Zacks Research raised CLEAR Secure from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Weiss Ratings upgraded CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

CLEAR Secure Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.