Blue Owl Technology Finance (NYSE:OTF) Price Target Cut to $13.00 by Analysts at Wells Fargo & Company

Blue Owl Technology Finance (NYSE:OTF) had its price objective lowered by Wells Fargo & Company from $15.00 to $13.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 8.70% from the company’s current price.

Separately, Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Blue Owl Technology Finance Stock Performance

Shares of OTF traded down $0.35 during trading hours on Friday, reaching $11.96. 1,846,023 shares of the company’s stock traded hands, compared to its average volume of 1,853,209. Blue Owl Technology Finance has a twelve month low of $11.73 and a twelve month high of $21.62. The firm has a market capitalization of $5.60 billion and a price-to-earnings ratio of 7.04.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, February 18th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Blue Owl Technology Finance had a net margin of 62.89% and a return on equity of 6.92%. The company had revenue of $320.58 million during the quarter, compared to the consensus estimate of $326.27 million.

Blue Owl Technology Finance declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 18th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Blue Owl Technology Finance

Large investors have recently added to or reduced their stakes in the company. QP Wealth Management LLC acquired a new stake in shares of Blue Owl Technology Finance in the fourth quarter worth $168,000. Wealth Enhancement Advisory Services LLC grew its stake in Blue Owl Technology Finance by 137.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,992 shares of the company’s stock valued at $1,044,000 after acquiring an additional 42,888 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Blue Owl Technology Finance in the fourth quarter worth approximately $169,000. Pallas Capital Advisors LLC boosted its holdings in shares of Blue Owl Technology Finance by 642.4% during the fourth quarter. Pallas Capital Advisors LLC now owns 85,480 shares of the company’s stock worth $1,243,000 after purchasing an additional 73,966 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. grew its position in Blue Owl Technology Finance by 121.0% during the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,426 shares of the company’s stock valued at $704,000 after purchasing an additional 26,510 shares in the last quarter.

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.