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 the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $11.51, for a total value of $52,658.25. Following the completion of the sale, the chief executive officer owned 360,058 shares of the company’s stock, valued at approximately $4,144,267.58. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a 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 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 transaction of $55,850.00.

Virnetx Stock Up 0.2%

NASDAQ:VHC traded up $0.02 during mid-day trading on Wednesday, reaching $11.30. 562,181 shares of the company were exchanged, compared to its average volume of 36,751. Virnetx Holding Corp has a 12 month low of $9.82 and a 12 month high of $29.00. The company has a fifty day moving average of $12.78 and a 200 day moving average of $14.08. The stock has a market cap of $47.35 million, a PE 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.

Hedge Funds Weigh In On Virnetx

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VHC shares. Wall Street Zen downgraded shares of Virnetx from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reissued 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 data from MarketBeat.com, the stock 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.