Millennium Management LLC Decreases Stock Holdings in Jumia Technologies AG (NYSE:JMIA)

Millennium Management LLC trimmed its holdings in Jumia Technologies AG (NYSE:JMIA - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 916,948 shares of the company's stock after selling 292,290 shares during the period. Millennium Management LLC owned 0.91% of Jumia Technologies worth $3,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Jumia Technologies by 14.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,100 shares of the company's stock worth $180,000 after acquiring an additional 6,096 shares during the period. Graham Capital Management L.P. grew its holdings in Jumia Technologies by 61.7% in the fourth quarter. Graham Capital Management L.P. now owns 210,024 shares of the company's stock valued at $802,000 after purchasing an additional 80,115 shares during the period. Centiva Capital LP increased its position in Jumia Technologies by 438.2% during the fourth quarter. Centiva Capital LP now owns 87,477 shares of the company's stock worth $334,000 after purchasing an additional 71,223 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Jumia Technologies by 11.0% during the fourth quarter. Ameriprise Financial Inc. now owns 24,717 shares of the company's stock worth $94,000 after purchasing an additional 2,455 shares during the period. Finally, 683 Capital Management LLC acquired a new position in shares of Jumia Technologies in the 4th quarter valued at $3,384,000. 16.50% of the stock is owned by institutional investors and hedge funds.

Jumia Technologies Stock Up 1.9%

JMIA stock traded up $0.06 during trading on Wednesday, reaching $3.30. 2,227,901 shares of the stock traded hands, compared to its average volume of 3,908,106. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73. The business's 50 day moving average price is $2.57 and its 200-day moving average price is $3.24. Jumia Technologies AG has a 52-week low of $1.60 and a 52-week high of $15.04.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lowered their price objective on shares of Jumia Technologies from $5.00 to $4.75 and set a "sector perform" rating for the company in a research note on Friday, February 21st.

Jumia Technologies Company Profile

Jumia Technologies AG operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, the United Arab Emirates, and internationally. The company's platform consists of marketplace that connects sellers with customers; logistics service, which enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets under the JumiaPay name.