The 4 Most Popular E-Commerce Stocks Among Hedge Funds

2. eBay Inc (NASDAQ:EBAY)

Investors with Long Positions (as of June 30): 99

Aggregate Value of Investors’ Holdings (as of June 30): $11.73 Billion

eBay Inc (NASDAQ:EBAY)’s popularity among hedge funds saw a slight increase during the April-June period as the date of the spin-off of Paypal Holdings Inc (NASDAQ:PYPL) approached. Though the aggregate value of investors’ holdings in the company came down slightly, by 1%, during the second quarter, the number of hedge funds who owned stakes in eBay Inc (NASDAQ:EBAY) rose by nine during the same period. The gradual uptrend that the stock of eBay Inc (NASDAQ:EBAY) has experienced since the Paypal Holdings Inc (NASDAQ:PYPL) spin-off was announced continued during the second quarter, as it ended the quarter with gains of 4.4%. Activist investor Carl Icahn, who was instrumental in pressuring eBay Inc (NASDAQ:EBAY) to spin-off Paypal Holdings Inc (NASDAQ:PYPL), was the largest shareholder of the company among the hedge funds we track. His hedge fund Icahn Capital LP owned over 46.27 million shares of eBay Inc (NASDAQ:EBAY) at the end of June.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Investors with Long Positions (as of June 30): 103

Aggregate Value of Investors’ Holdings (as of June 30): $104.58 Billion

With its immense 66.54% year-to-date rise, 16.7% of which was in the second quarter, it’s not difficult to understand why Amazon.com, Inc. (NASDAQ:AMZN) was the favorite e-commerce stock of hedge funds at the end of the quarter. Hedge funds lapped up Amazon.com, Inc. (NASDAQ:AMZN)’s shares in droves during the quarter, with the number of hedge funds in our database who own the stock going up by seven and the aggregate value of hedge funds’ holdings seeing a 23.80% increase during the April-June period. The company has managed to beat the Street’s estimates for the last three quarters, including with its second quarter numbers in July by reporting a profit, which for a long time was the major concern investors had regarding the company. Among the funds which initiated a position in the company during the second quarter was Jim Simons‘ Renaissance Technologies. As of June 30, the quant fund owned over 1.15 million shares of Amazon.com, Inc. (NASDAQ:AMZN).

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