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

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 369,633 shares in the company, valued at approximately $4,128,800.61. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $11.51, for a total value of $52,658.25.

Virnetx Stock Up 1.2%

VHC stock opened at $11.44 on Friday. The business has a 50 day moving average of $12.77 and a 200 day moving average of $14.04. The firm has a market cap of $47.93 million, a PE ratio of -2.13 and a beta of 2.28. Virnetx Holding Corp has a twelve month low of $9.82 and a twelve month high of $29.00.

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

Institutional Trading of Virnetx

Institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group purchased a new position in shares of Virnetx in the second quarter worth $868,000. BlackRock Inc. purchased a new stake in shares of Virnetx during the second quarter valued at $840,000. Williams Jones Wealth Management LLC. boosted its position in shares of Virnetx by 19.0% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 100,165 shares of the company’s stock valued at $1,672,000 after buying an additional 16,000 shares during the last quarter. State Street Corp increased its holdings in Virnetx by 21.9% in the 4th quarter. State Street Corp now owns 14,447 shares of the company’s stock worth $241,000 after buying an additional 2,600 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Virnetx by 12.6% in the 4th quarter. Geode Capital Management LLC now owns 41,923 shares of the company’s stock worth $700,000 after buying an additional 4,684 shares in the last quarter. Institutional investors own 10.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VHC. 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 reaffirmed 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 data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.