John F. Walsh, Chief Operating Officer of Accenture plc (NYSE:ACN), has sold a total of $2,657,033 worth of company stock, according to a recent SEC filing. The transactions were executed on March 25th, with prices ranging from $330.35 to $333.24 per share.
The filing detailed a series of transactions where Walsh disposed of Accenture shares in multiple trades. These sales were part of a planned disposition under a Rule 10b5-1 Trading Plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading.
The first set of shares sold amounted to 873 Class A ordinary shares at an average price of $330.35, with trades executed at prices between $329.86 and $330.79. Following this, Walsh sold 2,765 shares at an average price of $331.52, with individual trades ranging from $330.88 to $331.82. The next batch included 2,019 shares sold at an average of $332.45, with prices per share between $331.88 and $332.80. The final sale reported was for 2,343 shares at an average price of $333.24, with the trades varying from $332.89 to $333.82.
After these transactions, Walsh's direct ownership in Accenture stands at 17,877 Class A ordinary shares. The sales represent a significant divestment by the COO, yet he maintains a substantial stake in the company.
Investors and market watchers often look to insider trading activity for hints about executives' confidence in their company's prospects. However, trades under a Rule 10b5-1 Trading Plan are typically scheduled in advance and may not necessarily reflect immediate sentiment.
Accenture, a global professional services company, has not yet commented on the transactions.
InvestingPro Insights
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