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D-MARKET Electronic Services & Trading HEPS

US equityMarket cap rank #3147Internet Retail

$2.66 +$0.01 (+0.19%)

Market open · Oct 8, 12:30 pm ET · After hours $2.60 -1.89%

Open$2.63

Prev close$2.65

Day range$2.61 – $2.67

Volume126.1K

Market cap$1.14B

P/E (TTM)–

Dividend yield–

Ownership & positioning

Who holds it, who is betting against it, and where the big money is moving

Institutional ownership101.1%+6.39 pts vs. prior quarter

Institutions holding41-2 vs. prior quarter

Insider trades (recent)0 buys / 0 sellsBalanced

Short interest0.19% of floatDays to cover 1.4 · as of 15 Sep 2026

Short-sale volume share27.7%5-day average of daily volume

Short-sale volume as % of daily volume

Large-order net flow, last 20 sessions

Net of large-order buying minus selling, in USD. Over this window: −$6.38M (8 inflow days, 12 outflow days).

Net flow by order size, last 20 sessions

Super/Big orders approximate institutional-size trades; Mid/Small approximate retail-size trades. Net buy minus sell value in each bucket, summed over the window.

The five largest holders on file together own 100.1% of shares outstanding.

Largest holders

Joint Stock Company Kaspi.kz94.53%
VR Advisory Services Ltd.4.57%
State Street Global Advisors0.55%
AS Trigon Asset Management0.24%
BNP Paribas Financial Markets SNC0.20%
UBS Asset Management0.19%
683 Capital Management, LLC0.12%
Morgan Stanley0.09%

By investor type

Public Company94.62%
Hedge Fund4.81%
Mutual Fund1.40%
Private Company0.29%

Reported short interest has fallen from 0.26% to 0.19% of float over the last 6 biweekly reports (30 Jun 2026 to 15 Sep 2026).

Recent institutional activity

Holder	Type	Period	Share change	New stake
Joint Stock Company Kaspi.kz	Public Company	2026/Q3	+90,975,901	94.5%
VR Advisory Services Ltd.	Hedge Fund	2026/Q3	+2,917,849	4.6%
683 Capital Management, LLC	Hedge Fund	2026/Q3	+500,000	0.1%
Citadel Advisors LLC	Hedge Fund	2026/Q3	+69,840	0.0%
GSA Capital Partners LLP	Hedge Fund	2026/Q3	+57,362	0.0%
Eaton Vance Management	Mutual Fund	2026/Q3	+46,181	0.1%
Morgan Stanley	Public Company	2026/Q3	+23,659	0.1%
AXQ Capital, LP	Hedge Fund	2026/Q3	+17,267	0.0%
Barclays PLC	Public Company	2026/Q3	+3,978	0.0%
Northern Trust Global Investments	Mutual Fund	2026/Q3	+3,048	0.0%
Simplex Trading, LLC	Private Company	2026/Q3	+1,138	0.0%
Rhumbline Advisers Ltd Partnership	Mutual Fund	2026/Q3	+160	0.0%
GAMMA Investing LLC	Mutual Fund	2026/Q3	+156	0.0%
Arax Advisory Partners, LLC	Mutual Fund	2026/Q3	+63	0.0%
Caitong International Asset Management Co., Limited	Mutual Fund	2026/Q3	+11	0.0%

Institutional buy/sell activity by reporting period, largest moves first.

Insider transactions

Date	Insider	Title	Transaction	Shares	Price	Held after
17 Mar 2026	Hakan Karadogan	Chief Executive Officer of Logistics	Initial Statement of Beneficial	+0	–	100,000

From Form 4/Form 144 filings. Negative share counts are disposals (sales, gifts, or shares withheld for taxes); positive are acquisitions.

Short interest, by report

Report date	Shares short	% of float	Days to cover
15 Sep 2026	800,236	0.2%	1.4
31 Aug 2026	899,305	0.3%	5.5
14 Aug 2026	859,671	0.2%	4.5
31 Jul 2026	1,031,089	0.3%	11.0
15 Jul 2026	1,088,464	0.3%	9.6
30 Jun 2026	925,187	0.3%	2.1

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