Jennison Associates LLC Purchases 686,245 Shares of Kanzhun Limited (NASDAQ:BZ)

Jennison Associates LLC boosted its stake in Kanzhun Limited (NASDAQ:BZ - Free Report) by 58.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,853,160 shares of the company's stock after acquiring an additional 686,245 shares during the quarter. Jennison Associates LLC owned 0.49% of Kanzhun worth $32,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BZ. Vanguard Group Inc. grew its holdings in Kanzhun by 1.6% during the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company's stock worth $225,711,000 after purchasing an additional 203,594 shares during the period. RWC Asset Advisors US LLC increased its holdings in shares of Kanzhun by 79.8% during the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company's stock worth $107,220,000 after acquiring an additional 2,529,725 shares during the last quarter. Federated Hermes Inc. raised its stake in Kanzhun by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company's stock valued at $100,988,000 after acquiring an additional 507,337 shares during the period. Assenagon Asset Management S.A. bought a new position in Kanzhun during the third quarter worth $64,220,000. Finally, WCM Investment Management LLC increased its holdings in shares of Kanzhun by 109.3% in the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company's stock valued at $54,251,000 after purchasing an additional 1,649,411 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BZ. Daiwa Capital Markets lowered Kanzhun from a "buy" rating to a "neutral" rating in a research note on Thursday, July 25th. Daiwa America raised shares of Kanzhun to a "hold" rating in a research note on Thursday, July 25th. Barclays lowered their price objective on shares of Kanzhun from $27.00 to $14.00 and set an "overweight" rating for the company in a research report on Friday, August 30th. Finally, CLSA assumed coverage on Kanzhun in a report on Monday. They set an "outperform" rating and a $18.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Kanzhun Trading Down 1.2 %

BZ stock traded down $0.15 during trading on Friday, hitting $12.77. The company had a trading volume of 2,789,740 shares, compared to its average volume of 4,089,993. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74. The business has a 50-day moving average of $15.03 and a 200-day moving average of $16.53. The stock has a market cap of $4.84 billion, a PE ratio of 30.06 and a beta of 0.55.

Kanzhun (NASDAQ:BZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $263.75 million during the quarter, compared to the consensus estimate of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. Research analysts forecast that Kanzhun Limited will post 0.47 EPS for the current year.

About Kanzhun

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.