Insider Selling: Dolby Laboratories major shareholder Sells 4,831 Shares of Stock (DLB)
Dolby Laboratories (NYSE:DLB) major shareholder Dagmar Dolby sold 4,831 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $45.00, for a total transaction of $217,395.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Dolby Laboratories (NYSE:DLB) traded up 0.20% during mid-day trading on Monday, hitting $44.68. 235,487 shares of the company’s stock traded hands. Dolby Laboratories has a 1-year low of $31.19 and a 1-year high of $45.83. The stock’s 50-day moving average is $43.62 and its 200-day moving average is $42.44. The company has a market cap of $4.563 billion and a P/E ratio of 22.28.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.47 earnings per share. Dolby Laboratories’s revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Dolby Laboratories will post $1.86 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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.
Dolby Laboratories, Inc designs and manufactures video and audio products for the film production, cinema, and television broadcast industries.
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