Skandinaviska Enskilda Banken AB publ Sells 121,600 Shares of CLEAR Secure, Inc. (NYSE:YOU)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in CLEAR Secure, Inc. by 22.6%, ending the first quarter with 416,200 shares, valued at approximately $10.78 million.
• CLEAR Secure announced a quarterly dividend of $0.125, with a yield of 1.69%, and a payout ratio of 31.25%.
• CLEAR Secure's stock currently holds a consensus rating of "Moderate Buy" with an average target price of $32.00 from research analysts.

Skandinaviska Enskilda Banken AB publ lowered its position in CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 416,200 shares of the company's stock after selling 121,600 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.30% of CLEAR Secure worth $10,784,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund increased its holdings in shares of CLEAR Secure by 6.3% in the first quarter. New York State Common Retirement Fund now owns 28,913 shares of the company's stock worth $749,000 after purchasing an additional 1,712 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of CLEAR Secure by 54.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,627 shares of the company's stock worth $713,000 after purchasing an additional 9,768 shares during the period. Personal CFO Solutions LLC bought a new position in shares of CLEAR Secure in the first quarter worth $260,000. Principal Financial Group Inc. grew its position in CLEAR Secure by 2.3% in the first quarter. Principal Financial Group Inc. now owns 519,264 shares of the company's stock worth $13,454,000 after acquiring an additional 11,633 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in CLEAR Secure by 132.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,681 shares of the company's stock worth $614,000 after acquiring an additional 13,499 shares in the last quarter. Institutional investors own 73.80% of the company's stock.

Insider Transactions at CLEAR Secure

In other news, Director Adam Wiener sold 5,000 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the director directly owned 207,634 shares in the company, valued at approximately $6,229,020. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth L. Cornick sold 228,374 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $25.54, for a total transaction of $5,832,671.96. Following the sale, the director owned 149,093 shares of the company's stock, valued at approximately $3,807,835.22. This represents a 60.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 965,964 shares of company stock valued at $24,388,299. 39.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on YOU. Stifel Nicolaus upped their target price on shares of CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday. Telsey Advisory Group reiterated an "outperform" rating and issued a $32.00 target price on shares of CLEAR Secure in a research report on Wednesday. Finally, Wall Street Zen lowered shares of CLEAR Secure from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.40.

CLEAR Secure Price Performance

NYSE YOU traded up $0.16 during trading on Wednesday, hitting $29.80. 200,775 shares of the company's stock traded hands, compared to its average volume of 1,943,577. The stock has a fifty day moving average of $27.10 and a two-hundred day moving average of $25.69. CLEAR Secure, Inc. has a 12-month low of $18.23 and a 12-month high of $38.88. The firm has a market cap of $3.96 billion, a P/E ratio of 18.61 and a beta of 1.25.

CLEAR Secure (NYSE:YOU - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.04). The firm had revenue of $211.40 million for the quarter, compared to analysts' expectations of $208.02 million. CLEAR Secure had a return on equity of 115.09% and a net margin of 21.96%. The business's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, analysts expect that CLEAR Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

CLEAR Secure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.125 per share. The ex-dividend date was Tuesday, June 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.68%. CLEAR Secure's dividend payout ratio is currently 31.25%.

CLEAR Secure 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.