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Goldman Sachs Doubles Stake in Netflix

11 Sep, 2008 By: Erik Gruenwedel

Goldman Sachs Asset Management Sept. 11 disclosed it has upped its stake in Netflix to more than 6.1 million shares, or 10.1% of the online DVD rental pioneer.

The New York-based investment firm Feb. 1 reported a 5.4% stake in Los Gatos, Calif.-based Netflix.

Lon Juricic, president of StreetInsider.com, told Barron’s Online that Goldman Sachs’ investment demonstrated “conviction” in Netflix’s business model and standing against rival Blockbuster.

“Pretty much everyone who wants to rent DVDs by mail now is going through Netflix," Juricic said.

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