Dark Forest Capital Management LP Acquires Shares of 8,938 Dolby Laboratories, Inc. (NYSE:DLB)

Dark Forest Capital Management LP bought a new position in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,938 shares of the electronics maker's stock, valued at approximately $698,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Dolby Laboratories by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,033,612 shares of the electronics maker's stock valued at $549,325,000 after acquiring an additional 68,771 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Dolby Laboratories by 64.2% in the fourth quarter. Bank of New York Mellon Corp now owns 4,826,477 shares of the electronics maker's stock worth $376,948,000 after purchasing an additional 1,887,518 shares in the last quarter. Boston Trust Walden Corp boosted its holdings in Dolby Laboratories by 0.9% during the fourth quarter. Boston Trust Walden Corp now owns 1,084,700 shares of the electronics maker's stock worth $84,715,000 after purchasing an additional 9,624 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Dolby Laboratories by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 901,707 shares of the electronics maker's stock valued at $70,424,000 after purchasing an additional 31,164 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Dolby Laboratories by 0.9% in the 4th quarter. First Trust Advisors LP now owns 794,772 shares of the electronics maker's stock valued at $62,072,000 after buying an additional 7,265 shares during the last quarter. Institutional investors own 58.56% of the company's stock.

Insider Buying and Selling at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the transaction, the chief accounting officer now owns 29,758 shares in the company, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total value of $3,395,200.00. Following the completion of the sale, the executive vice president now owns 62,397 shares of the company's stock, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock valued at $5,501,324 in the last quarter. 38.39% of the stock is currently owned by insiders.

Dolby Laboratories Trading Down 0.4 %

Shares of DLB traded down $0.30 during mid-day trading on Wednesday, reaching $76.11. The company's stock had a trading volume of 64,741 shares, compared to its average volume of 452,015. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $89.66. The business has a 50-day simple moving average of $78.06 and a two-hundred day simple moving average of $78.30. The stock has a market cap of $7.26 billion, a P/E ratio of 27.98 and a beta of 0.94.

Analysts Set New Price Targets

Several research analysts have weighed in on DLB shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 30th. Barrington Research restated an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a report on Thursday, February 13th. Finally, StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories 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.