Virnetx (NASDAQ:VHC) CEO Kendall Larsen Sells 4,425 Shares

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 4,425 shares of the business’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 sale, the chief executive officer owned 339,633 shares in the company, valued at $3,793,700.61. The trade was a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Thursday, September 10th, Kendall Larsen sold 8,000 shares of Virnetx stock. The shares were 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 shares were 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 stock was sold at an average price of $11.17, for a total value of $55,850.00.

Virnetx Price Performance

Shares of NASDAQ VHC opened at $11.07 on Tuesday. Virnetx Holding Corp has a 12 month low of $9.82 and a 12 month high of $29.00. The firm’s 50 day simple moving average is $12.65 and its 200-day simple moving average is $13.76. The stock has a market capitalization of $46.38 million, a price-to-earnings ratio of -2.06 and a beta of 2.28.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Csenge Advisory Group acquired a new stake in Virnetx in the 2nd quarter worth about $868,000. BlackRock Inc. acquired a new position in shares of Virnetx during the second quarter valued at approximately $840,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Virnetx during the second quarter valued at approximately $356,000. 10.37% of the stock is owned by hedge funds and other 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.