New Risk • May 07
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €462k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$1.1b). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Significant insider selling over the past 3 months (€462k sold). Reported Earnings • May 01
First quarter 2026 earnings released: EPS: US$1.09 (vs US$0.33 loss in 1Q 2025) First quarter 2026 results: EPS: US$1.09 (up from US$0.33 loss in 1Q 2025). Revenue: US$631.3m (up 3.1% from 1Q 2025). Net income: US$104.7m (up US$139.7m from 1Q 2025). Profit margin: 17% (up from net loss in 1Q 2025). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Multiline Retail industry in Europe. Ankündigung • Apr 21
Etsy, Inc., Annual General Meeting, Jun 09, 2026 Etsy, Inc., Annual General Meeting, Jun 09, 2026. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €53.32, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Multiline Retail industry in Europe. Total returns to shareholders of 39% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €99.72 per share. Ankündigung • Apr 16
Etsy, Inc. to Report Q1, 2026 Results on Apr 29, 2026 Etsy, Inc. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on Apr 29, 2026 Recent Insider Transactions • Feb 27
Chief Product & Technology Officer recently sold €110k worth of stock On the 23rd of February, Rafe Colburn sold around 3k shares on-market at roughly €44.00 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.4m more than they bought in the last 12 months. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: US$1.59 (vs US$2.64 in FY 2024) Full year 2025 results: EPS: US$1.59 (down from US$2.64 in FY 2024). Revenue: US$2.88b (up 2.7% from FY 2024). Net income: US$163.0m (down 46% from FY 2024). Profit margin: 5.7% (down from 11% in FY 2024). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Multiline Retail industry in Europe. Ankündigung • Feb 19
eBay Inc. (NasdaqGS:EBAY) entered into a Sale and Purchase Agreement to acquire Depop Limited from Etsy, Inc. (NYSE:ETSY) for approximately $1.2 billion. eBay Inc. (NasdaqGS:EBAY) entered into a Sale and Purchase Agreement to acquire Depop Limited from Etsy, Inc. (NYSE:ETSY) for approximately $1.2 billion on February 15, 2026. As part of the acquisition, eBay Inc. will acquire all of the outstanding equity interests of Depop Limited. The consideration of $1.2 billion will be paid in cash and is subject to certain purchase price adjustments. The transaction will be financed through cash on hand. In case of termination of transaction, eBay Inc. will pay a termination fee of $90 million to Etsy, Inc. The Purchase Agreement also provides that, upon certain termination events, eBay Inc. will be required to pay Etsy, Inc an additional termination fee of $70 million. For the period ended December 31, 2025, Depop Limited reported revenue of $1 billion.
The transaction is subject to the satisfaction of certain closing conditions and receipt of required regulatory approvals. The deal has been unanimously approved by the board of directors of eBay Inc. and Etsy, Inc. The transaction is currently expected to close in the second quarter of 2026. The proceeds from the sale will be utilized by Etsy, Inc. for general corporate purposes, continued share repurchases and investment in its core marketplace.
Ken S. Myers and Bomi Lee of Fenwick & West LLP acted as legal advisor to Etsy, Inc. Ethan Klingsberg, Zheng (Jonathan) Zhou and Jeff Zhang of Freshfields US LLP acted as legal advisor to eBay Inc. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €39.08, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 14x in the Multiline Retail industry in Europe. Ankündigung • Feb 06
Etsy, Inc. to Report Q4, 2025 Results on Feb 19, 2026 Etsy, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 19, 2026 Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €46.18, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 16x in the Multiline Retail industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €90.72 per share. New Risk • Jan 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 6.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.8% average weekly change). Negative equity (-US$1.1b). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.4% net profit margin). Ankündigung • Dec 22
Etsy, Inc. (NYSE:ETSY) announces an Equity Buyback for $750 million worth of its shares. Etsy, Inc. (NasdaqGS:ETSY) announces a share repurchase program. Under the program, the company will repurchase up to $750 million worth of its common stock. The stock repurchase program has no expiration date. Ankündigung • Dec 18
Etsy, Inc. Appoints Fred Wilson as Lead Independent Director, Effective January 1, 2026 The Board of Etsy, Inc. appointed the current Chair of the Board, Fred Wilson, as Lead Independent Director effective January 1, 2026. Fred Wilson is the Founder and Partner of Union Square Ventures and has served on Etsy's board since 2007. He provides significant experience in corporate governance, technology company strategy, and scaling businesses in growth. He is also a well-known thought leader on technology, venture capital, and management matters. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €45.86, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 15x in the Multiline Retail industry in Europe. Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: US$0.76 (vs US$0.50 in 3Q 2024) Third quarter 2025 results: EPS: US$0.76 (up from US$0.50 in 3Q 2024). Revenue: US$678.0m (up 2.4% from 3Q 2024). Net income: US$75.5m (up 32% from 3Q 2024). Profit margin: 11% (up from 8.7% in 3Q 2024). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in Europe. Ankündigung • Oct 16
Etsy, Inc. to Report Q3, 2025 Results on Oct 29, 2025 Etsy, Inc. announced that they will report Q3, 2025 results Pre-Market on Oct 29, 2025 Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €63.81, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 17x in the Multiline Retail industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €109 per share. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €51.68, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 17x in the Multiline Retail industry in Europe. Ankündigung • Sep 04
Etsy, Inc. Announces Executive Changes Etsy, Inc. announced that Rafe Colburn, the company's current Chief Technology Officer, will expand his remit to Chief Product and Technology Officer, effective September 8, 2025. In this new role, Colburn will now oversee the product and engineering organizations for the Etsy marketplace. He will report to Kruti Patel Goyal, Etsy's President and Chief Growth Officer, and remain part of the company's executive team. This appointment follows the departure of Nick Daniel, who is leaving Etsy to pursue other opportunities. Daniel's last day as Chief Product Officer will be September 5, 2025, and he will remain with the company in an advisory capacity until October. Rafe Colburn is the Chief Technology Officer at Etsy. Previously, Rafe served as Chief Product and Technology and Officer at Depop, where he was responsible for driving the vision for Depop's end-to-end user experience
while building a high performing product organization. Previous to Depop, Rafe served as Vice President of Engineering at Etsy, and was responsible for Etsy's Ads,
Fulfilment, Seller Experience, Marketing Technology, and Landing Experience teams. During his tenure, he established Etsy's Data Engineering team, and was responsible for Payments and Checkout, Compliance, International, Member Services, and Trust & Safety engineering. Earlier in his career, Colburn was the Principal Engineer at IDology and worked as a consultant at a number of firms building custom applications. He has authored numerous articles, papers, and books on Web development. Recent Insider Transactions • Aug 27
Independent Director recently sold €415k worth of stock On the 22nd of August, Martha Burns sold around 8k shares on-market at roughly €53.57 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.0m more than they bought in the last 12 months. New Risk • Aug 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 7.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Negative equity (-US$1.1b). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). Significant insider selling over the past 3 months (€372k sold). New Risk • Aug 06
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €395k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$1.1b). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). Significant insider selling over the past 3 months (€395k sold). Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: US$0.28 (vs US$0.46 in 2Q 2024) Second quarter 2025 results: EPS: US$0.28 (down from US$0.46 in 2Q 2024). Revenue: US$672.7m (up 3.8% from 2Q 2024). Net income: US$28.8m (down 46% from 2Q 2024). Profit margin: 4.3% (down from 8.2% in 2Q 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in Europe. Ankündigung • Jul 17
Etsy, Inc. to Report Q2, 2025 Results on Jul 30, 2025 Etsy, Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 30, 2025 New Risk • Jun 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$910m). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.7% net profit margin). Ankündigung • Jun 03
Servco Pacific Inc. and Creator Partners LLC completed the acquisition of Reverb Holdings, Inc. from Etsy, Inc. (NasdaqGS:ETSY). Servco Pacific Inc. and Creator Partners LLC entered into an agreement to acquire Reverb Holdings, Inc. from Etsy, Inc. (NasdaqGS:ETSY) on April 21, 2025.
Servco Pacific Inc. and Creator Partners LLC completed the acquisition of Reverb Holdings, Inc. from Etsy, Inc. (NasdaqGS:ETSY) on April 21, 2025. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €51.42, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Multiline Retail industry in Europe. Reported Earnings • May 02
First quarter 2025 earnings released: US$0.49 loss per share (vs US$0.53 profit in 1Q 2024) First quarter 2025 results: US$0.49 loss per share (down from US$0.53 profit in 1Q 2024). Revenue: US$651.2m (flat on 1Q 2024). Net loss: US$52.1m (down 183% from profit in 1Q 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Multiline Retail industry in Europe. Ankündigung • Apr 24
Servco Pacific Inc. and Creator Partners LLC entered into an agreement to acquire Reverb Holdings, Inc. from Etsy, Inc. (NasdaqGS:ETSY). Servco Pacific Inc. and Creator Partners LLC entered into an agreement to acquire Reverb Holdings, Inc. from Etsy, Inc. (NasdaqGS:ETSY) on April 21, 2025. Ankündigung • Apr 19
Etsy, Inc., Annual General Meeting, Jun 17, 2025 Etsy, Inc., Annual General Meeting, Jun 17, 2025. Ankündigung • Apr 17
Etsy, Inc. to Report Q1, 2025 Results on Apr 30, 2025 Etsy, Inc. announced that they will report Q1, 2025 results Pre-Market on Apr 30, 2025 Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €37.11, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Multiline Retail industry in Europe. Ankündigung • Mar 27
Etsy Appoints Rafe Colburn as Chief Technology Officer Effective May 5, 2025 Etsy, Inc. announced the appointment of Rafe Colburn as Chief Technology Officer (CTO), effective May 5, 2025. Colburn brings a wealth of technology leadership experience to the role. He currently serves as Chief Technology & Product Officer at Depop, where he has successfully scaled the technology team to support rapid growth and transformed the customer experience to one that is more app-based and discovery-centric. Prior to Depop, Colburn spent nearly 10 years at Etsy, where he led engineering teams during periods of significant growth and transformation across a wide range of critical areas, including ads, marketing technology, seller experience, trust & safety, localization and translation, and customer support. Colburn will be based out of Etsy's Brooklyn, NY headquarters. He will report to Etsy's CEO Josh Silverman and be part of Etsy's Executive Team. Rafe Colburn currently serves as Chief Technology & Product Officer at Depop. In this role, he is responsible for Depop's product & design function, driving the vision for Depop's end-to-end user experience while building a high-performing product organization. Prior to Depop, Colburn served as Vice President of Engineering at Etsy, and was responsible for Etsy's Ads, Fulfilment, Seller Experience, Marketing Technology, and Landing Experience teams. During his tenure, he established Etsy's Data Engineering team, and was responsible for Payments and Checkout, Compliance, International, Member Services, and Trust & Safety engineering. Earlier in his career, Colburn was the Principal Engineer at IDology and worked as a consultant at a number of firms building custom applications. He has authored numerous articles, papers, and books on Web development. Board Change • Mar 18
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Independent Director Marc Steinberg was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
