SCHEDULE: Morgan Stanley Boosts Criteo Stake to 8.5%

Morgan Stanley and its subsidiary, Morgan Stanley & Co. International plc, reported a combined beneficial ownership of 8.5% in Criteo S.A. as of December 31, 2025.

Summary

• Morgan Stanley, along with its subsidiary Morgan Stanley & Co. International plc, beneficially owns 4,474,503 American Depository Shares/Ordinary Shares of Criteo S.A.
• This aggregate ownership represents 8.5% of Criteo S.A.'s class of securities.
• Morgan Stanley & Co. International plc, a wholly-owned subsidiary, directly holds 3,036,144 shares, accounting for 5.8% of the class.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating an update to previously reported beneficial ownership.
• The beneficial ownership is reported as of December 31, 2025.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive disclosure, indicating a significant institutional investor's continued interest in Criteo S.A. without providing new operational or financial insights.

Industry Context

StockSavvy.ai notes that institutional filings like this Schedule 13G provide transparency into significant ownership stakes by major financial players. Morgan Stanley's reported stake in Criteo S.A. suggests ongoing institutional interest in the ad-tech sector, which is currently navigating evolving privacy regulations and shifts in digital advertising strategies.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure for institutional investors crossing the 5% beneficial ownership threshold, as mandated by SEC regulations.
• The nature of this filing does not include performance metrics for direct comparison to industry benchmarks or specific companies.
• Large institutional holdings by entities like Morgan Stanley are common across publicly traded companies, indicating a typical investment activity rather than a unique event for Criteo S.A. or the broader ad-tech industry.

Stakeholder Impact

• Shareholders: Provides increased transparency regarding significant institutional ownership, which may be interpreted as a signal of confidence from a major financial institution.

Key Dates

Keywords

Criteo S.A., Morgan Stanley, Schedule 13G, Beneficial Ownership, Institutional Investor, CRTO, American Depository Shares, Ordinary Shares