Erik Bissonnette Acquires 10,000 Shares of Blue Owl Technology Finance (NYSE:OTF) Stock

Blue Owl Technology Finance Corp. (NYSE:OTF) President Erik Bissonnette purchased 10,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Friday, September 5th. The shares were bought at an average cost of $14.70 per share, with a total value of $147,000.00. Following the completion of the transaction, the president directly owned 166,525 shares of the company’s stock, valued at approximately $2,447,917.50. The trade was a 6.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Blue Owl Technology Finance Price Performance

Shares of OTF traded down $0.08 during midday trading on Friday, reaching $13.32. The stock had a trading volume of 1,788,400 shares, compared to its average volume of 1,400,483. Blue Owl Technology Finance Corp. has a one year low of $12.89 and a one year high of $21.62. The company has a market cap of $6.24 billion and a PE ratio of 7.66.

Institutional Trading of Blue Owl Technology Finance

Hedge funds have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new position in Blue Owl Technology Finance in the fourth quarter worth $44,000. Cornerstone Partners Capital Management LLC purchased a new position in Blue Owl Technology Finance during the fourth quarter valued at approximately $146,000. QP Wealth Management LLC acquired a new stake in Blue Owl Technology Finance during the fourth quarter valued at $168,000. Norden Group LLC acquired a new position in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $169,000. Finally, PFG Investments LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter worth approximately $170,000.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Blue Owl Technology Finance presently has a consensus rating of “Hold”.

About Blue Owl Technology Finance

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.