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

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 4,425 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was 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 directly owned 339,633 shares in the company, valued at approximately $3,793,700.61. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 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 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 Price Performance

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

Virnetx (NASDAQ:VHC) last announced 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 analysts recently weighed in on the stock. Wall Street Zen cut shares of Virnetx from a “sell” rating to a “strong sell” rating in a report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Virnetx in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Virnetx has a consensus rating of “Sell”.

Institutional Investors Weigh In On Virnetx

Institutional investors have recently bought and sold shares of the stock. Csenge Advisory Group acquired a new position in Virnetx during the 2nd quarter valued at about $868,000. BlackRock Inc. bought a new stake in shares of Virnetx during the 2nd quarter worth about $840,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Virnetx in the 2nd quarter worth approximately $356,000. Institutional investors and hedge funds own 10.37% of the company’s stock.

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.