Aquatic Capital Management LLC Buys 19,692 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Aquatic Capital Management LLC boosted its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 1,036.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,592 shares of the electronics maker’s stock after buying an additional 19,692 shares during the period. Aquatic Capital Management LLC’s holdings in Dolby Laboratories were worth $1,686,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Savant Capital LLC grew its position in shares of Dolby Laboratories by 2.0% during the 4th quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock valued at $490,000 after acquiring an additional 125 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Dolby Laboratories by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock valued at $1,525,000 after purchasing an additional 132 shares during the period. Harbor Capital Advisors Inc. increased its position in Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock worth $201,000 after buying an additional 136 shares in the last quarter. Mather Group LLC. lifted its position in shares of Dolby Laboratories by 36.8% during the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after buying an additional 142 shares in the last quarter. Finally, Naples Global Advisors LLC grew its stake in shares of Dolby Laboratories by 0.4% during the 4th quarter. Naples Global Advisors LLC now owns 35,730 shares of the electronics maker’s stock valued at $2,791,000 after acquiring an additional 160 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DLB has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, January 30th. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Barrington Research reissued an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Price Performance

Dolby Laboratories stock opened at $76.50 on Wednesday. The firm’s 50 day moving average price is $78.06 and its 200-day moving average price is $78.30. Dolby Laboratories, Inc. has a 1 year low of $66.35 and a 1 year high of $89.66. The stock has a market cap of $7.30 billion, a P/E ratio of 28.13 and a beta of 0.94.

Insider Transactions at Dolby Laboratories

In related news, 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 sale, the executive vice president now owns 62,397 shares in the company, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. The trade was a 19.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,121 shares of company stock valued at $5,501,324. 38.39% of the stock is currently owned by insiders.

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.