Pine Ridge Advisers LLC Acquires 511,368 Shares of Blue Owl Technology Finance Corp. $OTF

Pine Ridge Advisers LLC grew its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF) by 100.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,022,732 shares of the company’s stock after purchasing an additional 511,368 shares during the quarter. Blue Owl Technology Finance comprises about 0.8% of Pine Ridge Advisers LLC’s portfolio, making the stock its 17th biggest position. Pine Ridge Advisers LLC’s holdings in Blue Owl Technology Finance were worth $12,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OTF. Orange County Employees Retirement System bought a new stake in Blue Owl Technology Finance in the fourth quarter worth approximately $116,497,000. Rockefeller Capital Management L.P. lifted its stake in Blue Owl Technology Finance by 34.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 624,044 shares of the company’s stock valued at $9,074,000 after buying an additional 159,060 shares during the period. Requisite Capital Management LLC boosted its holdings in shares of Blue Owl Technology Finance by 141.2% during the 4th quarter. Requisite Capital Management LLC now owns 674,624 shares of the company’s stock worth $10,078,000 after buying an additional 394,895 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Blue Owl Technology Finance by 871.9% during the 1st quarter. Diversify Wealth Management LLC now owns 155,697 shares of the company’s stock worth $1,929,000 after buying an additional 139,677 shares in the last quarter. Finally, Stephens Inc. AR bought a new position in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $8,220,000.

Insider Transactions at Blue Owl Technology Finance

In other Blue Owl Technology Finance news, Director Melissa Weiler acquired 10,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $109,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Chris Temple bought 7,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $10.71 per share, for a total transaction of $74,970.00. Following the acquisition, the director directly owned 12,000 shares in the company, valued at $128,520. The trade was a 140.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 18,000 shares of company stock valued at $194,710 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Blue Owl Technology Finance Stock Down 0.0%

NYSE OTF opened at $10.06 on Wednesday. Blue Owl Technology Finance Corp. has a 52 week low of $9.78 and a 52 week high of $15.82. The business has a 50 day moving average price of $10.59 and a 200-day moving average price of $11.63. The company has a market cap of $4.66 billion and a price-to-earnings ratio of 11.18.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $222.12 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, equities research analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.9%. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, June 30th. Blue Owl Technology Finance’s payout ratio is 155.56%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OTF. Keefe, Bruyette & Woods lowered their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Tuesday, May 12th. Royal Bank Of Canada cut their target price on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Monday, May 18th. Truist Financial reduced their price target on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Citizens Jmp decreased their price target on shares of Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.40.

Blue Owl Technology Finance Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.