Jumia Technologies $JMIA Stake Decreased by Fund 1 Investments LLC

Key Points

• Fund 1 Investments reduced its Jumia Technologies stake by 24.8% in the second quarter, selling 3.06 million shares and retaining 9.26 million shares worth approximately $65.3 million. Jumia remains the fund’s second-largest holding and represents 10.8% of its portfolio.
• Jumia shares opened at $6.87, within a 12-month range of $5.69 to $14.72. Institutional investors collectively own 16.5% of the company.
• Analyst sentiment is mixed but leans positive: four analysts rate Jumia a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $14.40; however, Cantor Fitzgerald and RBC recently lowered their targets.

Fund 1 Investments LLC cut its stake in Jumia Technologies (NYSE:JMIA - Free Report) by 24.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,262,377 shares of the company's stock after selling 3,062,623 shares during the period. Jumia Technologies makes up 10.8% of Fund 1 Investments LLC's investment portfolio, making the stock its 2nd largest position. Fund 1 Investments LLC owned about 7.48% of Jumia Technologies worth $65,300,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Revisor Wealth Management LLC increased its holdings in shares of Jumia Technologies by 2.7% during the 1st quarter. Revisor Wealth Management LLC now owns 190,350 shares of the company's stock worth $1,313,000 after buying an additional 5,000 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Jumia Technologies in the 1st quarter worth $101,000. Boston Standard Wealth Management LLC boosted its holdings in Jumia Technologies by 9.4% in the first quarter. Boston Standard Wealth Management LLC now owns 20,892 shares of the company's stock valued at $144,000 after acquiring an additional 1,800 shares during the last quarter. RFG Advisory LLC boosted its holdings in Jumia Technologies by 197.2% in the first quarter. RFG Advisory LLC now owns 30,969 shares of the company's stock valued at $214,000 after acquiring an additional 20,548 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Jumia Technologies by 4,479.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,969 shares of the company's stock valued at $100,000 after acquiring an additional 7,795 shares during the period. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

Jumia Technologies Price Performance

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

Analysts Set New Price Targets

Several brokerages have commented on JMIA. Benchmark restated a "buy" rating on shares of Jumia Technologies in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Jumia Technologies in a research note on Friday, July 17th. Wall Street Zen cut Jumia Technologies from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Cantor Fitzgerald dropped their target price on shares of Jumia Technologies from $16.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada cut their price target on shares of Jumia Technologies from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Jumia Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $14.40.

Jumia Technologies Company Profile

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.

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