Jumia Technologies $JMIA is Fund 1 Investments LLC’s 2nd Largest Position

Fund 1 Investments LLC decreased its position in Jumia Technologies (NYSE:JMIA) by 24.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,262,377 shares of the company’s stock after selling 3,062,623 shares during the quarter. Jumia Technologies accounts for about 10.8% of Fund 1 Investments LLC’s investment portfolio, making the stock its 2nd largest holding. Fund 1 Investments LLC owned approximately 0.07% of Jumia Technologies worth $65,300,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Jumia Technologies by 40.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,172 shares of the company’s stock valued at $142,000 after purchasing an additional 19,072 shares during the period. Cetera Investment Advisers grew its holdings in Jumia Technologies by 23.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,857 shares of the company’s stock valued at $104,000 after purchasing an additional 4,995 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Jumia Technologies by 58,116.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company’s stock valued at $903,000 after purchasing an additional 224,328 shares in the last quarter. XTX Topco Ltd purchased a new stake in Jumia Technologies during the 2nd quarter worth $91,000. Finally, Jump Financial LLC purchased a new stake in Jumia Technologies during the 2nd quarter worth $49,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

Wall Street Analyst Weigh In

JMIA has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating on shares of Jumia Technologies in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jumia Technologies in a research report on Friday, July 17th. Wall Street Zen cut Jumia Technologies from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Craig Hallum reissued a “buy” rating and issued a $12.00 price target on shares of Jumia Technologies in a report on Thursday, August 13th. Finally, Cantor Fitzgerald lowered their price objective on Jumia Technologies from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Jumia Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Jumia Technologies Trading Up 0.3%

Shares of NYSE:JMIA opened at $6.87 on Thursday. The company has a fifty day simple moving average of $6.46 and a 200 day simple moving average of $7.21. The company has a debt-to-equity ratio of 25.80, a quick ratio of 0.77 and a current ratio of 0.88. Jumia Technologies has a 12-month low of $5.69 and a 12-month high of $14.72.

About Jumia Technologies

Jumia Technologies AG (NYSE: JMIA) operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company’s marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d’Ivoire, Uganda, Tunisia and South Africa.