Virnetx (NASDAQ:VHC) CEO Sells $49,427.25 in Stock

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 4,425 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $11.17, for a total transaction of $49,427.25. Following the transaction, the chief executive officer owned 339,633 shares in the company, valued at approximately $3,793,700.61. The trade was a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kendall Larsen also recently made the following trade(s):

• On Thursday, September 10th, Kendall Larsen sold 8,000 shares of Virnetx stock. The shares were sold at an average price of $11.48, for a total value of $91,840.00.
• On Wednesday, September 2nd, Kendall Larsen sold 4,575 shares of Virnetx stock. The stock was sold at an average price of $11.51, for a total transaction of $52,658.25.
• On Monday, August 31st, Kendall Larsen sold 5,000 shares of Virnetx stock. The shares were sold at an average price of $11.17, for a total transaction of $55,850.00.

Virnetx Stock Up 2.7%

Shares of NASDAQ VHC opened at $11.57 on Thursday. The company has a market capitalization of $48.48 million, a PE ratio of -2.15 and a beta of 2.28. The stock’s 50 day moving average price is $12.65 and its 200-day moving average price is $13.71. Virnetx Holding Corp has a twelve month low of $9.82 and a twelve month high of $29.00.

Virnetx (NASDAQ:VHC) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.20) EPS for the quarter.

Wall Street Analyst Weigh In

VHC has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. Wall Street Zen downgraded shares of Virnetx from a “sell” rating to a “strong sell” rating in a report on Sunday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Virnetx presently has a consensus rating of “Sell”.

Institutional Trading of Virnetx

Institutional investors and hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. bought a new stake in Virnetx during the second quarter valued at approximately $356,000. BlackRock Inc. bought a new position in shares of Virnetx in the 2nd quarter worth $840,000. Finally, Csenge Advisory Group raised its position in shares of Virnetx by 13.8% during the 4th quarter. Csenge Advisory Group now owns 68,243 shares of the company’s stock valued at $1,139,000 after buying an additional 8,275 shares in the last quarter. Hedge funds and other institutional investors own 10.37% of the company’s stock.

About Virnetx

VirnetX Holding Corporation is a technology company focused on internet security and secure communications. Its intellectual property is designed to help protect voice, video, messaging and other digital communications through encrypted, private connections and domain-name-based authentication.

The company has developed and marketed technologies and software associated with secure communications, including its Gabriel secure communications platform and related products. VirnetX has also generated revenue through licensing and enforcement of its patent portfolio, which covers aspects of secure domain-name resolution, virtual private networks and other internet communication technologies.

VirnetX was founded in 2005 and is headquartered in Zephyr Cove, Nevada.