Dolby Laboratories Major Shareholder Unloads $1,405,600 in Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby unloaded 40,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $35.14, for a total transaction of $1,405,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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.
DLB has been the subject of a number of recent research reports. 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. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.98.
Dolby Laboratories (NYSE:DLB) traded up 0.60% on Friday, hitting $35.32. The stock had a trading volume of 336,405 shares. 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 $32.45 and its 200-day moving average is $33.14. The company has a market cap of $3.594 billion and a price-to-earnings ratio of 18.62.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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