Insider Selling: Dagmar Dolby Unloads 70,000 Shares of Dolby Laboratories Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.65, for a total transaction of $2,845,500.00. The sale was disclosed in a document filed 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 sales and purchases with the SEC.
Dolby Laboratories (NYSE:DLB) traded up 0.52% during mid-day trading on Wednesday, hitting $40.71. The stock had a trading volume of 517,742 shares. Dolby Laboratories has a 1-year low of $30.78 and a 1-year high of $41.97. The stock has a 50-day moving average of $38.70 and a 200-day moving average of $35.21. The company has a market cap of $4.143 billion and a P/E ratio of 22.01.
Dolby Laboratories (NYSE:DLB) last announced its earnings results on Tuesday, October 29th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.24. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.12 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts expect that Dolby Laboratories will post $1.66 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 Tuesday, December 31st. They now have a $39.40 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Dolby Laboratories has a consensus rating of “Hold” and a consensus price target of $35.47.
Dolby Laboratories, Inc develops and delivers products and technologies that are used in the entertainment industry.
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