Lazard Asset Management LLC Cuts Stock Position in CLEAR Secure, Inc. $YOU

Lazard Asset Management LLC cut its stake in shares of CLEAR Secure, Inc. (NYSE:YOU) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,970 shares of the company’s stock after selling 9,537 shares during the quarter. Lazard Asset Management LLC’s holdings in CLEAR Secure were worth $2,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of YOU. Durable Capital Partners LP increased its stake in CLEAR Secure by 153.1% in the 2nd quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock valued at $207,932,000 after buying an additional 4,531,161 shares during the period. State Street Corp boosted its holdings in shares of CLEAR Secure by 1.8% in the fourth quarter. State Street Corp now owns 3,312,235 shares of the company’s stock valued at $116,193,000 after acquiring an additional 59,067 shares in the last quarter. Morgan Stanley boosted its holdings in shares of CLEAR Secure by 6.0% in the fourth quarter. Morgan Stanley now owns 2,696,837 shares of the company’s stock valued at $94,605,000 after acquiring an additional 152,074 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of CLEAR Secure by 0.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,680,942 shares of the company’s stock worth $129,784,000 after acquiring an additional 8,883 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of CLEAR Secure by 5.5% during the fourth quarter. Wellington Management Group LLP now owns 2,626,856 shares of the company’s stock worth $92,150,000 after acquiring an additional 137,249 shares during the period. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Kyle Mclaughlin sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $56.20, for a total value of $449,600.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Schlegel sold 4,412 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $59.02, for a total value of $260,396.24. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 23,962 shares of company stock worth $1,360,146. Company insiders own 29.70% of the company’s stock.

Wall Street Analyst Weigh In

YOU has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $70.00 price objective on shares of CLEAR Secure in a research report on Monday, July 20th. Stifel Nicolaus set a $60.00 target price on CLEAR Secure in a research report on Thursday, May 7th. Wall Street Zen raised CLEAR Secure from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. DA Davidson reduced their price target on CLEAR Secure from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.57.

CLEAR Secure Stock Down 0.2%

Shares of NYSE YOU opened at $55.15 on Monday. CLEAR Secure, Inc. has a 52 week low of $28.39 and a 52 week high of $62.73. The firm has a 50-day moving average price of $54.57 and a 200 day moving average price of $48.93. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 44.47 and a beta of 1.06.

CLEAR Secure (NYSE:YOU) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. CLEAR Secure had a net margin of 13.01% and a return on equity of 68.98%. The firm had revenue of $253.00 million for the quarter, compared to the consensus estimate of $244.38 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. Equities research analysts expect that CLEAR Secure, Inc. will post 1.61 EPS for the current fiscal year.

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.