Dolby Laboratories $DLB Shares Sold by Cwm LLC

Key Points

• Cwm LLC trimmed its stake in Dolby by 62.9% in Q4, selling 18,040 shares and leaving it with 10,638 shares valued at about $683,000.
• Company insiders also sold stock — SVP Shriram Revankar sold 3,000 shares at an average of $66.14 and CAO Ryan Nicholson sold 2,667 shares at $66.38 — with insiders now owning 37.93% of the company.
• Analysts maintain a consensus rating of “Moderate Buy” with a $90.75 target, while Dolby recently beat quarterly EPS estimates ($1.06 vs. $0.99) though revenue fell 2.8% year-over-year to $346.7 million.

Cwm LLC lowered its stake in shares of Dolby Laboratories (NYSE:DLB - Free Report) by 62.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,638 shares of the electronics maker's stock after selling 18,040 shares during the quarter. Cwm LLC's holdings in Dolby Laboratories were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. First Horizon Corp acquired a new stake in shares of Dolby Laboratories during the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its holdings in shares of Dolby Laboratories by 166.7% during the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker's stock valued at $25,000 after buying an additional 220 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Dolby Laboratories during the third quarter valued at approximately $38,000. Rothschild Investment LLC raised its holdings in shares of Dolby Laboratories by 4,046.7% during the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker's stock valued at $45,000 after buying an additional 607 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Dolby Laboratories during the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 58.56% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DLB. Barrington Research reaffirmed an "outperform" rating and set a $90.00 price target on shares of Dolby Laboratories in a report on Monday. Wall Street Zen cut Dolby Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 price target on shares of Dolby Laboratories in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dolby Laboratories in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.75.

Insiders Place Their Bets

In other news, SVP Shriram Revankar sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total transaction of $198,420.00. Following the sale, the senior vice president owned 83,218 shares in the company, valued at $5,504,038.52. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ryan Nicholson sold 2,667 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $66.38, for a total value of $177,035.46. Following the completion of the sale, the chief accounting officer owned 36,956 shares of the company's stock, valued at $2,453,139.28. The trade was a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 37.93% of the company's stock.

Dolby Laboratories Trading Up 0.4%

Shares of NYSE:DLB opened at $63.18 on Thursday. The company has a 50 day moving average of $62.58 and a 200-day moving average of $64.56. The firm has a market cap of $6.04 billion, a P/E ratio of 25.48 and a beta of 0.86. Dolby Laboratories has a twelve month low of $57.62 and a twelve month high of $78.28.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The company had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. During the same quarter last year, the firm posted $1.14 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that Dolby Laboratories will post 3.18 EPS for the current year.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

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