E Fund Management Co. Ltd. lowered its position in Kanzhun Limited (NASDAQ:BZ - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,232,682 shares of the company's stock after selling 170,977 shares during the quarter. Kanzhun makes up approximately 1.5% of E Fund Management Co. Ltd.'s portfolio, making the stock its 11th biggest position. E Fund Management Co. Ltd. owned approximately 0.59% of Kanzhun worth $30,811,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company's stock worth $123,607,000 after buying an additional 6,339,911 shares during the last quarter. State Street Corp lifted its position in Kanzhun by 2.8% during the 3rd quarter. State Street Corp now owns 5,084,631 shares of the company's stock worth $88,269,000 after acquiring an additional 138,804 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Kanzhun by 2.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company's stock valued at $52,136,000 after purchasing an additional 78,697 shares during the last quarter. Tekne Capital Management LLC increased its holdings in shares of Kanzhun by 16.0% in the third quarter. Tekne Capital Management LLC now owns 3,482,903 shares of the company's stock valued at $60,463,000 after purchasing an additional 480,083 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Kanzhun by 79.7% during the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company's stock worth $45,952,000 after purchasing an additional 1,476,693 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.
Kanzhun Stock Performance
BZ stock traded down $0.45 during trading on Monday, reaching $17.41. 6,095,354 shares of the company were exchanged, compared to its average volume of 4,042,246. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74. The company has a market cap of $6.63 billion, a P/E ratio of 38.69 and a beta of 0.46. The stock's 50 day moving average price is $14.98 and its 200 day moving average price is $14.50.
Kanzhun (NASDAQ:BZ - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. As a group, equities research analysts forecast that Kanzhun Limited will post 0.46 EPS for the current year.
Analysts Set New Price Targets
A number of research firms recently weighed in on BZ. Barclays lifted their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. CLSA assumed coverage on shares of Kanzhun in a report on Monday, November 18th. They issued an "outperform" rating and a $18.00 target price on the stock. Sanford C. Bernstein cut shares of Kanzhun from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Finally, Citigroup reduced their price objective on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.00.
Read Our Latest Stock Report on Kanzhun
About Kanzhun
(
Free Report)
Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.
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