Insider Selling: Virnetx (NASDAQ:VHC) CEO Sells $52,658.25 in Stock

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 4,575 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $11.51, for a total value of $52,658.25. Following the sale, the chief executive officer directly owned 360,058 shares in the company, valued at approximately $4,144,267.58. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $55,850.00.

Virnetx Trading Up 1.8%

Shares of NASDAQ:VHC opened at $11.65 on Friday. Virnetx Holding Corp has a 12-month low of $9.82 and a 12-month high of $29.00. The company has a market capitalization of $48.81 million, a PE ratio of -2.17 and a beta of 2.28. The business has a 50 day moving average of $12.75 and a two-hundred day moving average of $14.02.

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a research report on Thursday, June 18th. Wall Street Zen upgraded shares of Virnetx from a “strong sell” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Virnetx presently has an average rating of “Sell”.

Institutional Trading of Virnetx

A number of institutional investors and hedge funds have recently made changes to their positions in VHC. Csenge Advisory Group acquired a new position in shares of Virnetx during the 2nd quarter worth approximately $868,000. BlackRock Inc. acquired a new stake in Virnetx in the 2nd quarter valued at $840,000. Williams Jones Wealth Management LLC. grew its stake in Virnetx by 19.0% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock valued at $1,672,000 after acquiring an additional 16,000 shares during the period. State Street Corp increased its holdings in Virnetx by 21.9% in the 4th quarter. State Street Corp now owns 14,447 shares of the company’s stock worth $241,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Virnetx by 12.6% in the 4th quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock worth $700,000 after acquiring an additional 4,684 shares in the last quarter. 10.37% of the stock is currently owned by hedge funds and other institutional investors.

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.