Insider Selling: Virnetx (NASDAQ:VHC) CEO Sells 4,425 Shares

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 shares were sold at an average price of $11.17, for a total value of $49,427.25. Following the completion of the sale, the chief executive officer owned 339,633 shares of the company’s stock, valued at approximately $3,793,700.61. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $11.48, for a total transaction of $91,840.00.
• On Wednesday, September 2nd, Kendall Larsen sold 4,575 shares of Virnetx stock. The shares were 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 Performance

Shares of NASDAQ VHC traded down $0.43 during mid-day trading on Monday, reaching $11.07. The company had a trading volume of 160,745 shares, compared to its average volume of 105,596. Virnetx Holding Corp has a twelve month low of $9.82 and a twelve month high of $29.00. The stock has a market capitalization of $46.38 million, a PE ratio of -2.06 and a beta of 2.28. The stock’s 50 day moving average is $12.65 and its 200-day moving average is $13.76.

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

Hedge Funds Weigh In On Virnetx

Several hedge funds have recently added to or reduced their stakes in VHC. Baird Financial Group Inc. acquired a new position in shares of Virnetx in the 2nd quarter valued at $356,000. BlackRock Inc. acquired a new stake in Virnetx in the 2nd quarter valued at about $840,000. Finally, Csenge Advisory Group acquired a new position in shares of Virnetx in the second quarter valued at approximately $868,000. Institutional investors and hedge funds own 10.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Virnetx from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Virnetx Company Profile

VirnetX Holding Corp. is a U.S.-based technology company focused on secure communications and network security technologies. The company develops, owns and licenses intellectual property covering methods and systems for encrypted communications, virtual private networks and secure domain name resolution. VirnetX’s work centers on technologies designed to protect data in transit and enable private, authenticated connections across public networks.

VirnetX’s offerings are primarily deployed through licensing arrangements and technology integrations rather than through mass-market consumer products.