Virnetx (NASDAQ:VHC) CEO Sells 5,000 Shares of Stock

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 5,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $11.17, for a total value of $55,850.00. Following the completion of the transaction, the chief executive officer directly owned 369,633 shares in the company, valued at approximately $4,128,800.61. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.

Virnetx Stock Up 0.2%

Shares of NASDAQ VHC traded up $0.02 during mid-day trading on Wednesday, hitting $11.30. The company had a trading volume of 562,181 shares, compared to its average volume of 36,751. The business’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $14.08. Virnetx Holding Corp has a 1-year low of $9.82 and a 1-year high of $29.00.

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

Institutional Investors Weigh In On Virnetx

Several hedge funds have recently modified their holdings of VHC. Csenge Advisory Group acquired a new stake in shares of Virnetx in the second quarter valued at about $868,000. Vanguard Group Inc. raised its position in Virnetx by 2.9% during the third quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after acquiring an additional 4,815 shares during the last quarter. Williams Jones Wealth Management LLC. grew its holdings in Virnetx by 19.0% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock valued at $1,672,000 after buying an additional 16,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Virnetx by 12.6% in the fourth quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock valued at $700,000 after buying an additional 4,684 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Virnetx by 3.1% during the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after buying an additional 625 shares during the period. 10.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on VHC shares. Weiss Ratings restated 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 research report on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Virnetx currently has an average rating of “Sell”.

About Virnetx

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.