More and More Hedge Funds Are Selling eBay Inc (EBAY)

Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on several financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of eBay Inc (NASDAQ:EBAY) based on that data.

Is eBay Inc (NASDAQ:EBAY) a great investment now? The best stock pickers are in a bearish mood. The number of long hedge fund bets were cut by 5 in Q3. At the end of this article we will also compare EBAY to other stocks including NXP Semiconductors NV (NASDAQ:NXPI), Humana Inc (NYSE:HUM), and Imperial Oil Limited (USA) (NYSEAMEX:IMO) to get a better sense of its popularity.

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What have hedge funds been doing with eBay Inc (NASDAQ:EBAY)?

At the end of the third quarter, a total of 53 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 9% decline from the second quarter of 2016, and well below its levels from a year ago, when it was held by over 80 hedge funds.

HedgeFundSentimentChart

When looking at the institutional investors followed by Insider Monkey, Stephen Mandel’s Lone Pine Capital has the biggest position in eBay Inc (NASDAQ:EBAY), worth close to $1.09 billion, amounting to 4.9% of its total 13F portfolio. The second-most bullish fund manager is AQR Capital Management, led by Cliff Asness, holding a $366.1 million position. Other professional money managers with similar optimism encompass David Cohen and Harold Levy’s Iridian Asset Management, Robert Pitts’ Steadfast Capital Management, and Israel Englander’s Millennium Management.