Geode Capital Management LLC Has $77.79 Million Stock Holdings in Clear Secure, Inc. (NYSE:YOU)

Geode Capital Management LLC lifted its holdings in shares of Clear Secure, Inc. (NYSE:YOU) by 6.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,346,854 shares of the company’s stock after buying an additional 141,208 shares during the period. Geode Capital Management LLC’s holdings in Clear Secure were worth $77,788,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Clear Secure by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 477,605 shares of the company’s stock worth $8,936,000 after acquiring an additional 35,426 shares in the last quarter. Legato Capital Management LLC bought a new position in Clear Secure in the 2nd quarter valued at approximately $252,000. Arkadios Wealth Advisors bought a new position in Clear Secure in the 2nd quarter valued at approximately $232,000. Panagora Asset Management Inc. boosted its position in Clear Secure by 6.9% in the second quarter. Panagora Asset Management Inc. now owns 180,712 shares of the company’s stock valued at $3,381,000 after buying an additional 11,720 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Clear Secure by 6.1% during the second quarter. Principal Financial Group Inc. now owns 11,859 shares of the company’s stock worth $222,000 after buying an additional 681 shares during the last quarter. 73.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $34.08, for a total transaction of $5,112,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 37.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Clear Secure Stock Performance

NYSE:YOU opened at $26.66 on Friday. The company has a market capitalization of $3.72 billion, a PE ratio of 31.00 and a beta of 1.43. 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 50 day simple moving average of $30.18 and a two-hundred day simple moving average of $26.69.

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

Clear Secure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 10th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, December 10th. Clear Secure’s payout ratio is currently 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.