Key Points
- VirnetX CEO Kendall Larsen sold 4,425 shares at an average price of $11.17, generating $49,427.25. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct holdings by 1.29% to 339,633 shares.
- Larsen has also sold 17,575 shares in several transactions since August 31, indicating continued insider selling activity.
- VirnetX shares opened at $11.07 after declining 3.7%, while analysts maintained a negative outlook: the stock carries an average “Sell” rating and recently received a “Strong Sell” downgrade.
Virnetx Holding Corp (NASDAQ:VHC - Get Free Report) CEO Kendall Larsen sold 4,425 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $11.17, for a total transaction of $49,427.25. Following the sale, the chief executive officer directly owned 339,633 shares of the company's stock, valued at $3,793,700.61. The trade was a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Thursday, September 10th, Kendall Larsen sold 8,000 shares of Virnetx stock. The stock was sold at an average price of $11.48, for a total transaction of $91,840.00.
- 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 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 transaction of $55,850.00.
Virnetx Trading Down 3.7%
Shares of NASDAQ VHC opened at $11.07 on Tuesday. The stock has a market cap of $46.38 million, a PE ratio of -2.06 and a beta of 2.28. Virnetx Holding Corp has a 12-month low of $9.82 and a 12-month high of $29.00. The company has a 50-day moving average of $12.65 and a 200 day moving average of $13.76.
Virnetx (NASDAQ:VHC - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($1.20) earnings per share for the quarter.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Wall Street Zen downgraded Virnetx from a "sell" rating to a "strong sell" rating in a research report on Sunday. Weiss Ratings restated a "sell (d-)" rating on shares of Virnetx in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".
Check Out Our Latest Report on Virnetx
Institutional Trading of Virnetx
Several hedge funds have recently made changes to their positions in the company. Csenge Advisory Group purchased a new stake in Virnetx in the second quarter valued at $868,000. BlackRock Inc. acquired a new stake in shares of Virnetx during the 2nd quarter worth about $840,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Virnetx during the 2nd quarter worth about $356,000. Hedge funds and other 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
