Virnetx (NASDAQ:VHC) CEO Sells $91,840.00 in Stock

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $11.48, for a total value of $91,840.00. Following the completion of the sale, the chief executive officer owned 352,058 shares of the company’s stock, valued at $4,041,625.84. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Monday, September 14th, Kendall Larsen sold 4,425 shares of Virnetx stock. The shares were sold at an average price of $11.17, for a total value of $49,427.25.
• 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 value of $52,658.25.
• On Monday, August 31st, Kendall Larsen sold 5,000 shares of Virnetx stock. The stock was sold at an average price of $11.17, for a total transaction of $55,850.00.

Virnetx Stock Performance

VHC stock traded down $0.43 during midday trading on Monday, hitting $11.07. The company’s stock had a trading volume of 160,745 shares, compared to its average volume of 105,596. The firm has a 50-day simple moving average of $12.65 and a 200-day simple moving average of $13.76. Virnetx Holding Corp has a 52-week low of $9.82 and a 52-week high of $29.00.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VHC. Wall Street Zen lowered shares of Virnetx from a “sell” rating to a “strong sell” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Virnetx

Institutional investors and hedge funds have recently made changes to their positions in the business. Baird Financial Group Inc. purchased a new stake in shares of Virnetx in the second quarter valued at approximately $356,000. BlackRock Inc. purchased a new position in Virnetx during the second quarter worth $840,000. Finally, Csenge Advisory Group purchased a new position in Virnetx in the 2nd quarter valued at about $868,000. 10.37% of the stock is 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.