Some Insider Buying at Cogint Inc. (COGT) and Delta Air Lines Inc. (DAL), Plus Noteworthy Insider Selling at 3 Other Companies

Insiders at Software Maker that Shifts to Subscription Model Sell Shares

There was a cluster of insider selling at PTC Inc. (NASDAQ:PTC) earlier this week, though most sales were conducted in a pre-arranged manner. Matthew Lessner Cohen, Executive Vice President of Customer Success, sold 14,553 shares on Monday at prices that fell between $50.00 and $50.16 per share, cutting his ownership to 18,250 shares. This was the only spontaneous insider sale completed by the insiders who formed the consortium of sellers.

As the software maker continues to successfully transition to a subscription model, its financial results become weaker and weaker (at least for the short-to-medium term). PTC Inc. (NASDAQ:PTC)’s shares gained 6% on Thursday despite the company announcing a cut in its guidance for revenue, margins, earnings per share, and free cash flow. It appears that investors mainly focused on the company’s bookings, which increased by 31% year-over-year in the fiscal first quarter that ended December 31, exceeding the company’s expectations. Around 56% of PTC’s bookings were sold as subscriptions in 2016, compared to 17% in 2015. Since PTC’s shares are currently trading near their 52-week high of $52.27 after gaining 72% in the past year, the cluster of insider selling mentioned above should not be a reason for concern. Ken Griffin’s Citadel Advisors was the equity holder of 2.05 million shares of PTC Inc. (NASDAQ:PTC) at the end of September.

Board Member of Valhi Discards 10K Shares

One member of Valhi Inc. (NYSE:VHI)’s Board of Directors sold a relatively large portion of his stake in the company this week. W. Hayden McIlroy, a director of Valhi since 2003, liquidated 10,000 shares on Monday at a price of $3.25 per share. Mr. McIlroy currently owns a total of 28,500 shares after the sale.

Valhi Inc. (NYSE:VHI) operates as a holding company that organized its business operations into four reportable operating segments: chemicals; component products; waste management; and real estate management and development. The company has majority control of Kronos, a global producer and marketer of value-added titanium dioxide pigments, as well as operates in the component industry through its majority control of CompX, a manufacturer of security products used in a number of industries. Valhi shares have skyrocketed by 199% in the past 12 months, which clearly portends some diversification on the part of insiders, especially considering the rough patch the company has suffered in recent years. Jim Simons’ Renaissance Technologies had 205,300 shares of Valhi Inc. (NYSE:VHI) in its portfolio on September 30.

Disclosure: None