Insider Selling: Virnetx (NASDAQ:VHC) CEO Sells $91,840.00 in Stock

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 8,000 shares of Virnetx stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $11.48, for a total transaction of $91,840.00. Following the transaction, the chief executive officer directly owned 352,058 shares in the company, valued at approximately $4,041,625.84. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Monday, September 14th, Kendall Larsen sold 4,425 shares of Virnetx stock. The stock was sold at an average price of $11.17, for a total value of $49,427.25.
• 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.
• 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 Trading Down 3.7%

Shares of VHC traded down $0.43 during trading hours on Monday, hitting $11.07. The company had a trading volume of 160,745 shares, compared to its average volume of 105,596. Virnetx Holding Corp has a one year low of $9.82 and a one year high of $29.00. The company’s fifty day moving average price is $12.65 and its two-hundred day moving average price is $13.76.

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

Hedge Funds Weigh In On Virnetx

Several institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group purchased a new stake in shares of Virnetx in the second quarter valued at approximately $868,000. BlackRock Inc. purchased a new position in Virnetx in the 2nd quarter valued at about $840,000. Finally, Baird Financial Group Inc. purchased a new stake in Virnetx during the 2nd quarter worth approximately $356,000. Hedge funds and other institutional investors own 10.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in 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 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 stock 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.