FMR LLC & Abigail Johnson Trim Open Text Stake to 3.024%
Ticker: OTEX · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1002638
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, stake-change, SC-13G/A
TL;DR
**FMR LLC and Abigail Johnson now own 3.024% of Open Text, down from a previous filing.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Open Text Corporation. As of February 9, 2024, they collectively beneficially own 8,203,786 shares of common stock, representing 3.024% of the company. This is an amendment to a previous filing, indicating a change in their holdings, which matters to investors as it shows a significant institutional investor's current level of commitment to Open Text.
Why It Matters
This filing shows that a major institutional investor, FMR LLC, and its principal, Abigail P. Johnson, have reduced their stake in Open Text Corporation, which could signal a shift in their investment strategy or outlook on the company's future.
Risk Assessment
Risk Level: low — While a reduction in institutional ownership can be a minor concern, a 3.024% stake is still substantial and doesn't indicate a complete loss of confidence.
Analyst Insight
Investors should monitor future filings from FMR LLC to see if this trend of reducing their stake in Open Text Corporation continues, as it could indicate a long-term shift in institutional sentiment.
Key Numbers
- 8,203,786 — Shares Beneficially Owned (This is the total number of Open Text common shares FMR LLC and Abigail P. Johnson now beneficially own.)
- 3.024% — Percent of Class (This represents the percentage of Open Text's total common stock owned by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- OPEN TEXT CORPORATION (company) — the issuer of the common stock
- 8,203,786 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 3.024% (dollar_amount) — percentage of Open Text Corporation's common stock beneficially owned
Forward-Looking Statements
- FMR LLC may continue to adjust its position in Open Text Corporation, potentially further reducing or stabilizing its stake. (FMR LLC) — medium confidence, target: Next 6-12 months
FAQ
Who are the reporting persons in this SC 13G/A filing?
The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of their respective sections on the cover page.
What is the total number of shares of Open Text Corporation common stock beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each beneficially own 8,203,786 shares of Open Text Corporation common stock, as indicated in Item 7 and Item 9 of their respective cover pages and Item 4(a) for FMR LLC.
What percentage of Open Text Corporation's common stock do the reporting persons beneficially own?
The reporting persons, FMR LLC and Abigail P. Johnson, beneficially own 3.024% of Open Text Corporation's common stock, as shown in Item 11 of their respective cover pages and Item 4(b) for FMR LLC.
What is the CUSIP number for Open Text Corporation's common stock?
The CUSIP number for Open Text Corporation's common stock is 683715106, as stated in the filing's header and Item 2(e).
What is the business address of FMR LLC?
The business address of FMR LLC is 245 Summer Street, Boston, Massachusetts 02210, as specified in Item 2(b) of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding OPEN TEXT CORP (OTEX).