Clear Secure (NYSE:YOU) Shares Down 4.5% – Should You Sell?

Shares of Clear Secure, Inc. (NYSE:YOU) dropped 4.5% during trading on Friday . The stock traded as low as $35.32 and last traded at $35.64. Approximately 533,370 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,680,471 shares. The stock had previously closed at $37.33.

Analysts Set New Price Targets

YOU has been the topic of several research reports. Telsey Advisory Group reissued an “outperform” rating and set a $34.00 price objective on shares of Clear Secure in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their price target on Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC boosted their price target on Clear Secure from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Clear Secure currently has a consensus rating of “Hold” and a consensus target price of $30.20.

Clear Secure Stock Down 3.4 %

The company’s fifty day moving average price is $30.97 and its two-hundred day moving average price is $23.10. The firm has a market cap of $5.22 billion, a PE ratio of 64.38 and a beta of 1.65.

Clear Secure (NYSE:YOU) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $186.75 million for the quarter, compared to analyst estimates of $183.78 million. Clear Secure had a return on equity of 35.33% and a net margin of 10.36%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. As a group, analysts predict that Clear Secure, Inc. will post 1.01 earnings per share for the current year.

Clear Secure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Tuesday, September 10th. Clear Secure’s payout ratio is 71.43%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Clear Secure

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Clear Secure by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock valued at $224,866,000 after acquiring an additional 1,111,330 shares during the last quarter. Renaissance Technologies LLC raised its stake in 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 purchasing an additional 1,066,400 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of 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 period. Marshall Wace LLP increased its holdings in shares of Clear Secure by 278.3% during the 2nd quarter. Marshall Wace LLP now owns 1,099,062 shares of the company’s stock worth $20,563,000 after buying an additional 808,515 shares during the last quarter. Finally, Millennium Management LLC boosted 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 valued at $39,358,000 after acquiring an additional 757,528 shares during the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

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.