Jennison Associates LLC Has $36.81 Million Position in Clear Secure, Inc. (NYSE:YOU)

Jennison Associates LLC reduced its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 23.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,782,393 shares of the company’s stock after selling 542,815 shares during the period. Jennison Associates LLC’s holdings in Clear Secure were worth $36,806,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of YOU. Vanguard Group Inc. boosted its position in Clear Secure by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,249,449 shares of the company’s stock valued at $176,110,000 after purchasing an additional 143,300 shares during the last quarter. FMR LLC grew its stake in shares of Clear Secure by 28.7% in the 3rd quarter. FMR LLC now owns 3,641,892 shares of the company’s stock valued at $69,342,000 after buying an additional 811,586 shares in the last quarter. Brown Advisory Inc. increased its holdings in Clear Secure by 21.3% in the third quarter. Brown Advisory Inc. now owns 3,129,804 shares of the company’s stock worth $59,591,000 after buying an additional 549,946 shares during the last quarter. Clearbridge Investments LLC raised its position in Clear Secure by 13.0% during the third quarter. Clearbridge Investments LLC now owns 1,637,999 shares of the company’s stock valued at $31,188,000 after acquiring an additional 188,352 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Clear Secure by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 642,498 shares of the company’s stock valued at $12,233,000 after acquiring an additional 26,597 shares in the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on YOU. Telsey Advisory Group reissued an “outperform” rating and issued a $34.00 target price on shares of Clear Secure in a research report on Tuesday, March 26th. Wedbush decreased their price objective on shares of Clear Secure from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Clear Secure in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.40.

Clear Secure Stock Performance

Shares of NYSE:YOU opened at $17.74 on Thursday. Clear Secure, Inc. has a 52-week low of $15.28 and a 52-week high of $27.75. The company has a market cap of $2.82 billion, a P/E ratio of 59.14 and a beta of 1.54. The stock’s 50-day moving average is $19.35 and its 200-day moving average is $19.70.

Clear Secure (NYSE:YOU) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The company had revenue of $170.97 million for the quarter, compared to the consensus estimate of $166.56 million. During the same period in the previous year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, equities analysts predict that Clear Secure, Inc. will post 0.41 EPS for the current year.

Clear Secure Increases Dividend

The business also recently declared a None dividend, which was paid on Monday, April 8th. Shareholders of record on Monday, April 1st were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from Clear Secure’s previous None dividend of $0.25. Clear Secure’s dividend payout ratio is 120.00%.

Insiders Place Their Bets

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the transaction, the insider now owns 41,727 shares in the company, valued at approximately $834,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 39.94% of the company’s stock.

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.