Clear Secure, Inc. (NYSE:YOU) Chief Accounting Officer Dennis W. Liu has sold a portion of his stock in the company, according to the latest filings. On August 12, Liu sold 500 shares of Class A Common Stock at a weighted average price of $26.02 per share, totaling approximately $13,010. The transactions ranged from $26.00 to $26.03 per share.
The sale was conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan had been adopted by Liu on September 5, 2023.
Following the sale, Liu still retains a total of 9,211 shares in Clear Secure, indicating continued investment in the company's future. The details of the sale highlight the transparent nature of such transactions, ensuring that all pertinent information is available to the issuer, security holders, and the SEC staff upon request.
Clear Secure, Inc., headquartered in New York, specializes in prepackaged software services and remains a notable player in the technology sector. This recent transaction offers investors insight into the trading activities of the company's executives, which can be a valuable piece of information for those tracking insider behaviors and company stock performance.
In other recent news, secure identity company CLEAR reported a robust fiscal second quarter for 2024, adding a record 2.3 million members. This growth significantly contributed to CLEAR Travel and CLEAR Verified. Financially, the company experienced a 25% rise in revenues and a 137% increase in adjusted EBITDA, with operations and free cash flow up by 65% and 90% respectively. The company also raised its free cash flow growth guidance for the fiscal year to at least 40%.
CLEAR launched new technology enhancements and CLEAR Perks for CLEAR Plus members while announcing an airport innovation campaign. The company aims to reach 50 million members by 2025, with TSA PreCheck projected as a key revenue driver. Expansion into other venues, such as Home Depot (NYSE:HD), is underway to reduce fraud using CLEAR's identity platform.
Despite a slight year-over-year decline in member retention, the company's recent acquisition of Sora is expected to positively impact partner services. The company did not provide a specific target for dollar retention but aims for it to be well over 100%. These developments highlight CLEAR's continued focus on innovation, customer experience, and market expansion.
InvestingPro Insights
Clear Secure, Inc. (NYSE:YOU) has been a company of interest for investors, particularly with the recent insider stock sale by Chief Accounting Officer Dennis W. Liu. To provide a more comprehensive understanding of the company's financial health and stock performance, here are some key metrics from InvestingPro:
- The company boasts a market capitalization of approximately $3.7 billion, reflecting its substantial presence in the prepackaged software services sector.
- Clear Secure has a Price to Earnings (P/E) ratio of 33.85, which may suggest a higher valuation compared to average industry figures. The adjusted P/E ratio for the last twelve months as of Q2 2024 is slightly higher at 34.17.
- Investors might also note the strong revenue growth of 32.44% for the same period, indicating the company's ability to increase its sales effectively.
In addition to these metrics, there are InvestingPro Tips that could be particularly relevant for those interested in Clear Secure's stock:
- The company is trading near its 52-week high, with the price currently at 99.26% of this peak, which may attract investors looking for stocks with positive momentum.
- Clear Secure has also demonstrated strong returns, with a 34.72% return over the last month, aligning with an overall positive trend over the last six months.
For more in-depth analysis and additional InvestingPro Tips, investors can visit InvestingPro's dedicated page for Clear Secure at https://www.investing.com/pro/YOU. The platform lists 7 more tips that can provide valuable insights into the company's performance and potential investment opportunities.
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