Etsy Inc (NYSE:ETSY) shares rose 2.2% in premarket trading on Thursday after the online marketplace operator announced a new authorization to repurchase up to $750 million of its own stock.
The company said that, when combined with more than $200 million still available under its existing buyback program, the new authorization brings Etsy’s total potential share repurchases to nearly $1 billion.
“We see significant value in our shares, and we and our Board have confidence in the near-term growth priorities that have been put in place by our incoming Chief Executive Officer, Kruti Patel Goyal,” said CEO Josh Silverman in a statement.
Etsy added that it ended the most recent quarter with approximately $1.6 billion in cash, giving it the financial flexibility to continue returning capital to shareholders while also funding strategic investments to support growth at both Etsy and its Depop brand.
Alongside the buyback announcement, the company said that current board chair Fred Wilson will assume the role of lead independent director effective January 1, 2026. The change aligns with the previously announced leadership transition under which Kruti Patel Goyal will take over as CEO, while Silverman will move into the role of executive chair on the same date.
The new repurchase authorization does not have a set expiration date and may be adjusted, paused or ended at Etsy’s discretion. The company noted that buybacks may be carried out through open-market purchases, privately negotiated transactions or other methods permitted under applicable securities laws.