One of Wall Street's biggest banks just revealed a massive stake in Twitter - and the company's stock is soaring
- Morgan Stanley said in a filing on Wednesday that it had a 5.6% stake in Twitter, which boosted shares of the social media company.
- Twitter's stock has climbed 11% so far this year, although it's still trading 34% below its 52-week high hit last June.
- Follow Twitter's stock price here on Markets Insider.
The bank - one of Twitter's initial public offering underwriters in 2013 - owned a little more than 43.3 million shares as of December 31, according to the filing.The move on Wednesday extended the rally in Twitter shares so far this year, which has amounted to an 11% gain year-to-date. Still, shares have fallen 34% from their 52-week high hit last June.
Last week, the stock took a hit after the company reported quarterly earnings. Though Twitter reported revenue and profits that topped analyst expectations, it said monthly active users fell by 9 million to 321 million.
The Jack Dorsey-led social giant also revealed its total daily active users for the first time: 126 million.
More broadly, the majority of Wall Street analysts who cover Twitter are neutral on the name. While nearly 54% of analysts surveyed by Bloomberg carry a "hold" rating, nearly 31% recommend buying the stock, and 15% recommend investors sell.
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