Dolby Laboratories $DLB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in shares of Dolby Laboratories (NYSE:DLB) by 9.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,519 shares of the electronics maker’s stock after selling 8,391 shares during the quarter. ProShare Advisors LLC owned 0.08% of Dolby Laboratories worth $5,757,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp grew its stake in Dolby Laboratories by 8.3% during the first quarter. M&T Bank Corp now owns 3,595 shares of the electronics maker’s stock worth $289,000 after buying an additional 274 shares during the period. Cerity Partners LLC boosted its position in Dolby Laboratories by 48.6% during the 1st quarter. Cerity Partners LLC now owns 21,754 shares of the electronics maker’s stock worth $1,747,000 after purchasing an additional 7,111 shares during the period. Louisiana State Employees Retirement System raised its position in Dolby Laboratories by 3.0% in the first quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the electronics maker’s stock valued at $1,373,000 after purchasing an additional 500 shares during the period. CWM LLC lifted its stake in shares of Dolby Laboratories by 269.5% during the first quarter. CWM LLC now owns 13,785 shares of the electronics maker’s stock worth $1,107,000 after purchasing an additional 10,054 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its position in shares of Dolby Laboratories by 3.0% in the first quarter. Securian Asset Management Inc. now owns 4,648 shares of the electronics maker’s stock worth $373,000 after buying an additional 137 shares during the period. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $65.76 on Friday. The firm has a market cap of $6.30 billion, a PE ratio of 24.09 and a beta of 0.97. The firm’s 50-day simple moving average is $69.38 and its 200-day simple moving average is $72.79. Dolby Laboratories has a 1 year low of $64.38 and a 1 year high of $89.66.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $68.87, for a total transaction of $1,721,750.00. Following the transaction, the chief executive officer owned 114,725 shares of the company’s stock, valued at $7,901,110.75. This trade represents a 17.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president owned 70,435 shares of the company’s stock, valued at $5,276,990.20. This trade represents a 9.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,000 shares of company stock worth $4,037,690 in the last 90 days. 38.39% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DLB shares. Rosenblatt Securities reiterated a “buy” rating and set a $95.00 target price on shares of Dolby Laboratories in a report on Friday, August 1st. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 12th. Tigress Financial raised their price target on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a “buy” rating in a report on Friday, August 15th. Robert W. Baird began coverage on shares of Dolby Laboratories in a research note on Friday, September 5th. They set a “neutral” rating and a $74.00 price target on the stock. Finally, Baird R W raised shares of Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Dolby Laboratories has an average rating of “Moderate Buy” and an average price target of $95.75.

About Dolby Laboratories

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.