Key Points
- CEO Kendall Larsen sold 4,575 VirnetX shares at an average price of $11.51, generating $52,658.25. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 1.25% to 360,058 shares.
- VirnetX shares opened at $11.30, well below their 50-day and 200-day moving averages of $12.78 and $14.08, respectively. The stock has traded between $9.82 and $29.00 over the past year, and the company reported a quarterly loss of $1.20 per share.
- Analyst sentiment remains negative, with the sole analyst rating the stock “Sell” and Wall Street Zen recently downgrading it to “Strong Sell.” Institutional investors own 10.37% of VirnetX, with several firms increasing their positions.
Virnetx Holding Corp (NASDAQ:VHC - Get Free Report) CEO Kendall Larsen sold 4,575 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $11.51, for a total value of $52,658.25. Following the transaction, the chief executive officer owned 360,058 shares in the company, valued at approximately $4,144,267.58. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Monday, August 31st, Kendall Larsen sold 5,000 shares of Virnetx stock. The shares were sold at an average price of $11.17, for a total value of $55,850.00.
Virnetx Stock Performance
NASDAQ:VHC opened at $11.30 on Thursday. The stock has a fifty day moving average price of $12.78 and a 200-day moving average price of $14.08. The company has a market cap of $47.30 million, a price-to-earnings ratio of -2.10 and a beta of 2.28. Virnetx Holding Corp has a fifty-two week low of $9.82 and a fifty-two week high of $29.00.
Virnetx (NASDAQ:VHC - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($1.20) earnings per share (EPS) for the quarter.
Wall Street Analysts Forecast Growth
VHC has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Virnetx in a research note on Thursday, June 18th. Wall Street Zen cut shares of Virnetx from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell".
View Our Latest Analysis on VHC
Hedge Funds Weigh In On Virnetx
Several hedge funds and other institutional investors have recently modified their holdings of VHC. JPMorgan Chase & Co. lifted its position in shares of Virnetx by 9,676.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company's stock worth $85,000 after buying an additional 4,935 shares during the last quarter. State Street Corp boosted its stake in Virnetx by 21.9% in the fourth quarter. State Street Corp now owns 14,447 shares of the company's stock valued at $241,000 after buying an additional 2,600 shares in the last quarter. HighTower Advisors LLC grew its position 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 acquiring an additional 625 shares during the last quarter. Geode Capital Management LLC grew its position in Virnetx by 4.2% in the second quarter. Geode Capital Management LLC now owns 32,357 shares of the company's stock valued at $351,000 after acquiring an additional 1,318 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in Virnetx during the second quarter worth about $840,000. Institutional investors own 10.37% of the company's stock.
About Virnetx
(
Get Free Report)
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.
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