Dolby Laboratories $DLB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of Dolby Laboratories (NYSE:DLB) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,519 shares of the electronics maker’s stock after selling 8,391 shares during the quarter. ProShare Advisors LLC’s holdings in Dolby Laboratories were worth $5,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DLB. Vanguard Group Inc. lifted its stake in Dolby Laboratories by 7.1% in the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker’s stock valued at $605,194,000 after buying an additional 502,110 shares during the last quarter. AQR Capital Management LLC lifted its position in Dolby Laboratories by 63.6% in the 1st quarter. AQR Capital Management LLC now owns 1,143,978 shares of the electronics maker’s stock valued at $90,946,000 after purchasing an additional 444,718 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Dolby Laboratories by 241,160.1% during the 1st quarter. Jones Financial Companies Lllp now owns 429,443 shares of the electronics maker’s stock valued at $36,975,000 after purchasing an additional 429,265 shares during the period. Nuveen LLC bought a new position in Dolby Laboratories in the 1st quarter worth about $16,890,000. Finally, Martingale Asset Management L P acquired a new stake in shares of Dolby Laboratories in the first quarter valued at approximately $15,366,000. Institutional investors and hedge funds own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird initiated coverage on Dolby Laboratories in a report on Friday, September 5th. They issued a “neutral” rating and a $74.00 price objective for the company. Barrington Research reissued an “outperform” rating and issued a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Dolby Laboratories in a report on Wednesday, October 8th. Wall Street Zen raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Finally, Tigress Financial raised their target price on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.75.

Dolby Laboratories Stock Down 1.6%

NYSE:DLB opened at $65.76 on Friday. Dolby Laboratories has a 52-week low of $64.38 and a 52-week high of $89.66. The firm has a market cap of $6.30 billion, a P/E ratio of 24.09 and a beta of 0.97. The business’s 50-day moving average price is $69.38 and its 200 day moving average price is $72.79.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $68.87, for a total value of $1,721,750.00. Following the transaction, the chief executive officer owned 114,725 shares in the company, valued at approximately $7,901,110.75. The trade was a 17.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Shriram Revankar sold 7,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the transaction, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. This represents a 9.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,000 shares of company stock worth $4,037,690 in the last ninety days. Corporate insiders own 38.39% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.