Insider Selling: Dolby Laboratories Director Sells 3,000 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) Director Nicholas Donatiello, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $44.45, for a total value of $133,350.00. Following the completion of the transaction, the director now directly owns 7,411 shares in the company, valued at approximately $329,419. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on DLB. Analysts at Zacks downgraded shares of Dolby Laboratories from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $48.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Dolby Laboratories in a research note on Friday, July 25th. They now have a $43.00 price target on the stock, up previously from $38.00. Finally, analysts at B. Riley initiated coverage on shares of Dolby Laboratories in a research note on Tuesday, July 1st. They set a “neutral” rating and a $41.00 price target on the stock.
Shares of Dolby Laboratories (NYSE:DLB) traded up 0.20% during mid-day trading on Monday, hitting $44.68. The stock had a trading volume of 235,487 shares. Dolby Laboratories has a 52 week low of $31.19 and a 52 week high of $45.83. The stock has a 50-day moving average of $43.55 and a 200-day moving average of $42.4. The company has a market cap of $4.563 billion and a price-to-earnings ratio of 22.28.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.11. The company had revenue of $223.40 million for the quarter, compared to the consensus estimate of $210.23 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts expect that Dolby Laboratories will post $1.86 EPS for the current fiscal year.
Dolby Laboratories, Inc designs and manufactures video and audio products for the film production, cinema, and television broadcast industries.
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