Arizona State Retirement System bought a new position in Clear Secure, Inc. (NYSE:YOU – Get Rating) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 8,030 shares of the company’s stock, valued at approximately $216,000.
A number of other hedge funds and other institutional investors have also modified their holdings of YOU. Commonwealth Equity Services LLC increased its stake in shares of Clear Secure by 6.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,529 shares of the company’s stock worth $894,000 after acquiring an additional 1,768 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Clear Secure during the 4th quarter worth $50,000. Envestnet Asset Management Inc. purchased a new position in shares of Clear Secure during the 4th quarter worth $486,000. Northern Trust Corp grew its holdings in shares of Clear Secure by 35.9% during the 4th quarter. Northern Trust Corp now owns 32,942 shares of the company’s stock worth $1,033,000 after purchasing an additional 8,695 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Clear Secure by 9.8% during the 4th quarter. CIBC Asset Management Inc now owns 6,403 shares of the company’s stock worth $201,000 after purchasing an additional 574 shares during the period. 62.34% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Telsey Advisory Group increased their price target on Clear Secure to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, May 17th.
Clear Secure Price Performance
Clear Secure (NYSE:YOU – Get Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.11. Clear Secure had a negative return on equity of 8.30% and a negative net margin of 15.79%. The company had revenue of $90.50 million during the quarter, compared to analysts’ expectations of $88.31 million. Clear Secure’s revenue for the quarter was up 78.9% compared to the same quarter last year. Equities research analysts anticipate that Clear Secure, Inc. will post -0.17 earnings per share for the current year.
Insider Activity at Clear Secure
In related news, major shareholder Durable Capital Partners Lp acquired 80,300 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average price of $24.79 per share, for a total transaction of $1,990,637.00. Following the purchase, the insider now owns 11,476,588 shares of the company’s stock, valued at approximately $284,504,616.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder General Atlantic Partners Aiv sold 3,800,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $31.65, for a total transaction of $120,270,000.00. Following the completion of the sale, the insider now owns 7,013,699 shares in the company, valued at approximately $221,983,573.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Durable Capital Partners Lp acquired 80,300 shares of Clear Secure stock in a transaction dated Wednesday, May 11th. The shares were bought at an average price of $24.79 per share, with a total value of $1,990,637.00. Following the transaction, the insider now directly owns 11,476,588 shares in the company, valued at approximately $284,504,616.52. The disclosure for this purchase can be found here. 42.06% of the stock is currently owned by company insiders.
About Clear Secure
Clear Secure, Inc provides a member-centric secure identity platform in the United States. The company's secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking. It 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 app, a consumer-facing digital product that facilitates new user enrollment and member engagement from their mobile device.
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