Richard Drew/AP
- 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.
Twitter shares jumped more than 4% on Wednesday after Morgan Stanley said in a filing with the US Securities and Exchange Commission that it has a 5.6% stake in the company.
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.
Read more: Twitter is sliding despite beating Wall Street expectations
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.
Now read:
- Billionaire investor Ray Dalio sat down with his idol, Paul Volcker, who laid out the 3 principles that have guided his legendary career
- The investment chief at a $628 billion behemoth explains why the path is clear for a 10% stock-market gain this year — as long as one key issue is resolved
NOW WATCH: Sea cucumbers are so valuable that people are risking their lives diving for them
See Also:
- GOLDMAN SACHS: There's striking proof that a stock-market slowdown is near, and surviving it will require the use of one time-tested strategy
- The Fed may have sparked the latest stock rally, but one expert says it's actually planting the seeds for the next market crash
- A $280 billion investment chief says the market's biggest fear is overblown, and explains why that will clear the path for a stock spike