David M.Johnston, the EVP of global clinical development for PPD, Inc., sold over $1.3 million worth of stock, according to a Securities and Exchange Commission filing.

On Sept. 21, Johnston sold 40,000 shares at $33.11, for a total of $1,324,400, according to a Form 4 filed earlier this week.

Johnston, who joined PPD in 2013, now owns 53,107 shares, valued at over $1.7 million.

Last week, PPD, a global research contract organization, raised its third-quarter revenue guidance on reported better-than-expected financial results in July and August.

Shares of PPD Inc. (PPD) were trading up 1.64 percent near $33.49 on Friday.