What Do Hedge Funds Think of eBay Inc (EBAY)?

Because eBay Inc (NASDAQ:EBAY) has witnessed falling interest from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of fund managers who were dropping their full holdings heading into Q4. Interestingly, Carl Icahn’s Icahn Capital LP cut the largest stake of all the hedgies tracked by Insider Monkey, valued at close to $2,787.4 million in stock. Barry Rosenstein’s fund, JANA Partners, also said goodbye to its stock, about $692.8 million worth. These bearish behaviors are interesting, as total hedge fund interest was cut by 16 funds heading into Q4.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as eBay Inc (NASDAQ:EBAY) but similarly valued. These stocks are Syngenta AG (ADR) (NYSE:SYT), Liberty Global PLC LiLAC Class A (NASDAQ:LILA), Praxair, Inc. (NYSE:PX), and V.F. Corporation (NYSE:VFC). This group of stocks’ market valuations are closest to EBAY’s market valuation.

As you can see these stocks had an average of 26 hedge funds with bullish positions and the average amount invested in these stocks was $524 million. That figure was $3,682 million in EBAY’s case. V.F. Corporation (NYSE:VFC) is the most popular stock in this table. On the other hand Syngenta AG (ADR) (NYSE:SYT) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks eBay Inc (NASDAQ:EBAY) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.