Virnetx (NASDAQ:VHC) CEO Kendall Larsen Sells 5,000 Shares

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $11.17, for a total value of $55,850.00. Following the sale, the chief executive officer owned 369,633 shares in the company, valued at $4,128,800.61. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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.

Virnetx Stock Up 0.2%

Virnetx stock opened at $11.30 on Thursday. The stock 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 12-month low of $9.82 and a 12-month high of $29.00. The stock has a market capitalization of $47.30 million, a price-to-earnings 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 (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VHC. HighTower Advisors LLC increased its stake in Virnetx by 3.1% in the fourth quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after purchasing an additional 625 shares in the last quarter. Geode Capital Management LLC raised its holdings in Virnetx by 4.2% in the second quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock worth $351,000 after purchasing an additional 1,318 shares during the period. State Street Corp boosted its position in shares of Virnetx by 21.9% during the fourth quarter. State Street Corp now owns 14,447 shares of the company’s stock worth $241,000 after purchasing an additional 2,600 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Virnetx by 2.9% during the third quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after purchasing an additional 4,815 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Virnetx by 9,676.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock valued at $85,000 after buying an additional 4,935 shares during the period. Institutional investors own 10.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VHC shares. Wall Street Zen downgraded 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 analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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.