Virnetx (NASDAQ:VHC) CEO Kendall Larsen Sells 8,000 Shares of Stock

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 8,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $11.48, for a total transaction of $91,840.00. Following the sale, the chief executive officer owned 352,058 shares in the company, valued at approximately $4,041,625.84. This represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $49,427.25.
• 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 value of $55,850.00.

Virnetx Stock Down 3.7%

NASDAQ:VHC opened at $11.07 on Tuesday. Virnetx Holding Corp has a 52 week low of $9.82 and a 52 week high of $29.00. The stock’s 50-day moving average price is $12.65 and its 200-day moving average price is $13.76. The stock has a market capitalization of $46.38 million, a PE ratio of -2.06 and a beta of 2.28.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research report on Thursday, June 18th. Wall Street Zen cut shares of Virnetx from a “sell” rating to a “strong sell” rating in a research report on Sunday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

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

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.