SCHEDULE: Morgan Stanley Reports Criteo Stake

Morgan Stanley and its subsidiary have filed an updated Schedule 13G, reporting their beneficial ownership of Criteo S.A. ordinary shares and American Depository Shares.

Summary

• Morgan Stanley and its subsidiary, Morgan Stanley & Co. International plc, have filed an amended Schedule 13G regarding their beneficial ownership of Criteo S.A. securities.
• As of March 31, 2026, Morgan Stanley beneficially owns 4,908,581 shares, representing 9.8% of the class.
• Morgan Stanley & Co. International plc beneficially owns 2,803,375 shares, representing 5.6% of the class.
• The filing indicates that Morgan Stanley is a parent holding company and Morgan Stanley & Co. International plc is a subsidiary.
• Both entities are registered as brokers or dealers under Section 15 of the Securities Exchange Act.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as neutral to slightly negative, as it primarily reports on existing beneficial ownership stakes rather than new strategic developments or significant changes in holdings.

Positives

• The filing provides clarity on Morgan Stanley's beneficial ownership stake in Criteo S.A.
• The reporting entities are registered brokers/dealers, indicating compliance with regulatory requirements.

Negatives

• The filing does not indicate any new investment activity or strategic changes, suggesting a passive reporting role.
• The combined stake, while significant, does not represent a controlling interest.

Risks

• Market volatility could impact the value of the reported beneficial ownership stake.
• Changes in regulatory requirements for beneficial ownership reporting could affect future filings.

Future Outlook

No specific future outlook or guidance is provided in this Schedule 13G filing, as it primarily reports on current beneficial ownership.

Management Comments

• Morgan Stanley and Morgan Stanley & Co. International plc jointly filed this Schedule 13G, agreeing that it is filed on behalf of each party.
• The filing certifies that the foreign regulatory scheme applicable to a broker or dealer registered under section 15 of the Act is substantially comparable to the regulatory scheme applicable to functionally equivalent U.S. institutions.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and financial institutions like Morgan Stanley to report passive stakes in publicly traded companies. This filing indicates Morgan Stanley's ongoing interest in Criteo S.A. within the digital advertising technology sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception.
• Creditors: No direct impact indicated.

Next Steps

• Morgan Stanley and its subsidiary will continue to report any material changes in their beneficial ownership of Criteo S.A. securities as required by SEC regulations.

Key Dates

Keywords

Criteo S.A., Morgan Stanley, Schedule 13G, Beneficial Ownership, Ordinary Shares, American Depository Shares, Broker-Dealer