Insider Selling: Dolby Laboratories Major Shareholder Unloads 35,000 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 35,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $35.20, for a total value of $1,232,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Dolby Laboratories (NYSE:DLB) traded down 0.93% during mid-day trading on Friday, hitting $35.17. 423,393 shares of the company’s stock traded hands. Dolby Laboratories has a 52 week low of $28.66 and a 52 week high of $37.01. The stock’s 50-day moving average is $33.47 and its 200-day moving average is $33.45. The company has a market cap of $3.579 billion and a P/E ratio of 18.82.
Dolby Laboratories (NYSE:DLB) last released its earnings data on Thursday, July 25th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.57 earnings per share. Dolby Laboratories’s revenue was down 1.5% compared to the same quarter last year. Analysts expect that Dolby Laboratories will post $1.72 EPS for the current fiscal year.
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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Dolby Laboratories has an average rating of “Hold” and an average price target of $30.98.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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