Netflix is set to report first-quarter earnings after the bell on Tuesday.
Shares of the streaming giant have enjoyed an impressive 50% rally since last year’s market sell-off, but are currently trading at six-week lows.
Markets Insider has compiled a list of Netflix’s largest shareholders to gauge which firms and individuals stand to lose or gain the most in the wake of Tuesday’s market-moving event.
Watch Netflix trade live.
The streaming giant Netflix is scheduled to release its first-quarter earnings after the bell on Tuesday. Whichever way the stock moves will have significant implications for its biggest shareholders, — the largest of which holds 9% of all outstanding shares. To be sure, BlackRock, JPMorgan, and other firms own shares for their clients.
Ahead of the company’s results, Markets Insider has compiled a list of Netflix’s largest shareholders, which include CEO Reed Hastings, investment banks like JPMorgan, and asset managers like BlackRock.
To be sure, the options market is signaling a move between 7% and 8% in either direction, which is slightly elevated when compared to the average performance over the last four- and eight-quarters, according to a Susquehanna analysis. after earnings are released. Shares have already surged 50% since the broader market sell-off in December, though they’re still trading 17% below their all-time high hit last June.
“Put differently, the options appear to be pricing in a similar amount of risk as they have ahead of the most recent few quarters,” Chris Jacobson, a derivatives strategist at Susquehanna, said in an e-mail.
More broadly, Wall Street analysts will be paying close attention to the company’s subscriber growth and cash burn after a mixed earnings picture last quarter.
The company’s paid net additions are also likely to be top of mind after Netflix guided first-quarter net additions to be the second-smallest sequential increase in …read more
Source:: Business Insider