Blue Owl Technology Finance Corp. $OTF Shares Newly Bought by State of New Jersey Common Pension Fund A

State of New Jersey Common Pension Fund A purchased a new position in Blue Owl Technology Finance Corp. (NYSE:OTF) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 4,206,609 shares of the company’s stock, valued at approximately $41,267,000. Blue Owl Technology Finance comprises approximately 16.3% of State of New Jersey Common Pension Fund A’s holdings, making the stock its 2nd biggest position.

Several other institutional investors also recently modified their holdings of OTF. Sumitomo Mitsui Trust Group Inc. boosted its stake in Blue Owl Technology Finance by 7.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 289,255 shares of the company’s stock worth $2,838,000 after acquiring an additional 20,781 shares in the last quarter. Left Brain Wealth Management LLC bought a new position in shares of Blue Owl Technology Finance during the third quarter valued at approximately $158,000. Apollon Wealth Management LLC increased its stake in shares of Blue Owl Technology Finance by 14.5% during the third quarter. Apollon Wealth Management LLC now owns 188,628 shares of the company’s stock valued at $1,850,000 after purchasing an additional 23,931 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Blue Owl Technology Finance during the third quarter valued at approximately $129,000. Finally, Atlatl Advisers LLC purchased a new position in shares of Blue Owl Technology Finance during the third quarter valued at approximately $267,000.

Wall Street Analyst Weigh In

OTF has been the topic of a number of analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 price target on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Citigroup reaffirmed an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Finally, Citizens Jmp raised their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Blue Owl Technology Finance presently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Blue Owl Technology Finance Price Performance

Shares of Blue Owl Technology Finance stock opened at $9.62 on Wednesday. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 12.03 and a beta of -0.53. The firm’s 50-day moving average is $10.10 and its 200 day moving average is $11.12. Blue Owl Technology Finance Corp. has a 1 year low of $8.76 and a 1 year high of $15.00.

Blue Owl Technology Finance (NYSE:OTF) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $338.03 million for the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period last year, the company posted $0.45 earnings per share. On average, equities analysts expect that Blue Owl Technology Finance Corp. will post 1.25 EPS for the current fiscal year.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.