VirnetX CEO Kendall Larsen buys shares worth $4,143 By Investing.com

VirnetX Holding Corp (NYSEMKT:VHC) President and CEO Kendall Larsen has recently increased his stake in the company, according to the latest Form 4 filing with the Securities and Exchange Commission. On May 24, 2024, Larsen purchased 1,000 shares of VirnetX common stock at a price of $4.1435 per share, totaling approximately $4,143.

The acquisition of shares by Larsen demonstrates a continued commitment to the company, as he serves as both President and CEO. Following this transaction, the total number of shares owned by Larsen’s spouse stands at 44,649. It’s worth noting that this purchase was made indirectly by his spouse.

In addition to the reported transaction, the filing also provides a snapshot of Larsen’s broader holdings in the company. Larsen has direct and indirect positions through various entities, including The Kathleen Sheehan Revocable Trust dated February 5, 2009, and The K2 Investment Fund LLC, with holdings of 30,676 and 15,000 shares respectively. His direct holdings amount to 324,633 shares of common stock.

VirnetX Holding Corp, known for its patent portfolio focused on network communications technology, has been a subject of interest for investors tracking intellectual property and technology-related stocks.

The recent transaction offers a glimpse into the executive’s confidence in the company’s future prospects and aligns with typical investor interest in the buying and selling activities of a company’s top executives. Investors often monitor these transactions as part of their broader strategy to understand company performance and executive sentiment.

Kendall Larsen’s acquisition of additional shares in VirnetX, while not a large transaction, can be seen as a positive signal to the market about the leadership’s belief in the company’s value and direction.

InvestingPro Insights

As VirnetX Holding Corp’s (NYSEMKT:VHC) President and CEO Kendall Larsen increases his stake in the company, investors may be seeking deeper financial insights to understand the company’s current market position. According to InvestingPro data, VirnetX has a market capitalization of 15.24 million USD, which is reflective of the company’s size within its industry. Notably, the stock is trading at a low Price / Book multiple of 0.3 as of the last twelve months leading up to Q1 2024, suggesting that the market may be undervaluing the company’s assets relative to its share price.

However, the financial health of VirnetX poses some concerns. The company’s revenue has significantly declined by 84.44% in the same period, and it reported a gross profit of merely 0.01 million USD. This stark revenue decline aligns with the InvestingPro Tip indicating that analysts anticipate a sales decline in the current year. Furthermore, the company’s stock price has experienced a substantial drop over the past year, with a 1 Year Price Total Return of -52.16%. This may be a factor in the stock being in oversold territory according to the Relative Strength Index (RSI), another key InvestingPro Tip.

For investors interested in exploring additional insights, there are 14 more InvestingPro Tips available for VirnetX, which can provide further guidance on the stock’s potential performance and valuation. These tips can be found by visiting the dedicated page for VHC at InvestingPro. Additionally, users can take advantage of the special offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with a suite of professional tools and data.

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