Wall Street Zen downgraded shares of Virnetx (NASDAQ:VHC – Free Report) from a sell rating to a strong sell rating in a research note published on Sunday morning,Wall Street Zen reports.
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Virnetx in a research report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.
Read Our Latest Research Report on Virnetx
Virnetx Price Performance
Virnetx (NASDAQ:VHC – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($1.20) earnings per share for the quarter.
Insider Activity at Virnetx
In related news, CEO Kendall Larsen sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $11.17, for a total transaction of $55,850.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.74% of the company’s stock.
Hedge Funds Weigh In On Virnetx
Hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC lifted its holdings in Virnetx by 3.1% during the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after buying an additional 625 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 1,318 shares in the last quarter. State Street Corp boosted its holdings in shares of 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 purchasing an additional 2,600 shares during the period. Vanguard Group Inc. grew its stake in Virnetx by 2.9% in the third quarter. Vanguard Group Inc. now owns 172,337 shares of the company’s stock worth $2,947,000 after purchasing an additional 4,815 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 4,935 shares during the period. Institutional investors own 10.37% of the company’s stock.
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.
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