Voloridge Investment Management LLC purchased a new position in shares of Jumia Technologies AG (NYSE:JMIA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,155,700 shares of the company’s stock, valued at approximately $40,981,000. Voloridge Investment Management LLC owned about 1.17% of Jumia Technologies at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Credit Agricole S A acquired a new stake in Jumia Technologies during the first quarter worth approximately $25,000. Horrell Capital Management Inc. acquired a new stake in shares of Jumia Technologies during the first quarter worth $34,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Jumia Technologies in the first quarter valued at $38,000. Albion Financial Group UT acquired a new position in Jumia Technologies in the fourth quarter valued at $40,000. Finally, Signaturefd LLC lifted its position in Jumia Technologies by 112.3% during the first quarter. Signaturefd LLC now owns 1,365 shares of the company’s stock worth $48,000 after buying an additional 722 shares during the period. Institutional investors and hedge funds own 24.31% of the company’s stock.
A number of research firms have recently commented on JMIA. Renaissance Capital raised shares of Jumia Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 12th. Morgan Stanley dropped their price target on shares of Jumia Technologies from $32.00 to $21.00 and set an “equal weight” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Jumia Technologies presently has a consensus rating of “Hold” and an average target price of $29.25.
Jumia Technologies Profile
Jumia Technologies AG operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates. The company's platform consists of marketplace that connects sellers with consumers; logistics service that 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.
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