Insider Selling: Dolby Laboratories Major Shareholder Sells 19,619 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 19,619 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $35.00, for a total transaction of $686,665.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on DLB shares. Analysts at Zacks upgraded shares of Dolby Laboratories from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $35.90 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Dolby Laboratories from $33.00 to $32.00 in a research note to investors on Friday, July 26th. They now have an “underweight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Dolby Laboratories currently has an average rating of “Hold” and a consensus target price of $30.98.
Shares of Dolby Laboratories (NYSE:DLB) traded down 0.43% on Wednesday, hitting $34.63. The stock had a trading volume of 261,137 shares. Dolby Laboratories has a 1-year low of $28.66 and a 1-year high of $37.01. The stock’s 50-day moving average is $33.32 and its 200-day moving average is $33.43. The company has a market cap of $3.524 billion and a P/E ratio of 18.44.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $207.07 million for the quarter, compared to the consensus estimate of $208.54 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Dolby Laboratories will post $1.72 earnings per share for the current fiscal year.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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