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 Virnetx 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 completion of the transaction, the chief executive officer owned 360,058 shares of the company’s stock, valued at $4,144,267.58. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Stock Up 0.2%

NASDAQ:VHC traded up $0.02 during trading hours on Wednesday, reaching $11.30. 562,181 shares of the stock were exchanged, compared to its average volume of 36,751. The firm has a 50 day simple moving average of $12.78 and a 200-day simple moving average of $14.08. Virnetx Holding Corp has a 52 week low of $9.82 and a 52 week high of $29.00. The stock has a market capitalization of $47.35 million, a P/E ratio of -2.10 and a beta of 2.28.

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

Analyst Ratings Changes

VHC has been the topic of several recent research reports. Wall Street Zen lowered shares of Virnetx from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Virnetx

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Virnetx by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after buying an additional 4,935 shares during the last quarter. State Street Corp raised its stake in shares of Virnetx by 21.9% in the fourth quarter. State Street Corp now owns 14,447 shares of the company’s stock valued at $241,000 after acquiring an additional 2,600 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Virnetx by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock worth $343,000 after acquiring an additional 625 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Virnetx by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock worth $351,000 after acquiring an additional 1,318 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Virnetx during the 2nd quarter worth approximately $840,000. 10.37% of the stock is owned by institutional investors.

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.