Wells Fargo & Company MN Makes New $4.21 Million Investment in Jumia Technologies AG – (NYSE:JMIA)

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Wells Fargo & Company MN purchased a new position in shares of Jumia Technologies AG – (NYSE:JMIA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 159,319 shares of the company’s stock, valued at approximately $4,210,000. Wells Fargo & Company MN owned 0.21% of Jumia Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in JMIA. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Jumia Technologies during the 2nd quarter worth about $28,108,000. Summit Partners L P purchased a new stake in shares of Jumia Technologies during the 2nd quarter worth about $7,309,000. ARK Investment Management LLC purchased a new stake in shares of Jumia Technologies during the 2nd quarter worth about $7,210,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Jumia Technologies during the 2nd quarter worth about $701,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Jumia Technologies during the 2nd quarter worth about $151,000. 18.34% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised shares of Jumia Technologies from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $13.00 in a research note on Tuesday, August 20th. Raymond James reissued an “outperform” rating and set a $23.00 target price (down from $36.00) on shares of Jumia Technologies in a research note on Thursday, August 22nd. Royal Bank of Canada raised shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $40.00 to $30.00 in a research note on Wednesday, August 21st. They noted that the move was a valuation call. Stifel Nicolaus set a $28.00 target price on shares of Jumia Technologies and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Zacks Investment Research lowered shares of Jumia Technologies from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.00.

Shares of NYSE JMIA traded down $0.07 during midday trading on Friday, reaching $10.48. 140,092 shares of the stock were exchanged, compared to its average volume of 1,173,288. The firm has a 50 day moving average of $12.33. The stock has a market cap of $829.52 million and a PE ratio of -2.61. The company has a quick ratio of 3.30, a current ratio of 3.42 and a debt-to-equity ratio of 0.02. Jumia Technologies AG – has a twelve month low of $9.99 and a twelve month high of $49.77.

About Jumia Technologies

Jumia Technologies AG operates an e-commerce platform in Africa. The company's platform consists of marketplace, which 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.

Further Reading: Why do analysts give a neutral rating?

Institutional Ownership by Quarter for Jumia Technologies (NYSE:JMIA)

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