State Street Corp Buys 138,804 Shares of Kanzhun Limited (NASDAQ:BZ)

State Street Corp grew its holdings in Kanzhun Limited (NASDAQ:BZ - Free Report) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,084,631 shares of the company's stock after acquiring an additional 138,804 shares during the quarter. State Street Corp owned 1.34% of Kanzhun worth $88,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Kanzhun by 812.5% in 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 purchasing an additional 6,339,911 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Kanzhun during the 3rd quarter valued at $64,220,000. RWC Asset Advisors US LLC lifted its position in shares of Kanzhun by 79.8% during the second 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 in the last quarter. WCM Investment Management LLC boosted its position 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 acquiring an additional 1,649,411 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Kanzhun by 3,918.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company's stock worth $28,626,000 after purchasing an additional 1,607,941 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Stock Performance

BZ traded up $0.10 on Tuesday, hitting $13.91. 5,094,177 shares of the company were exchanged, compared to its average volume of 4,215,135. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The firm has a market capitalization of $5.27 billion, a P/E ratio of 31.02 and a beta of 0.50. The business's fifty day moving average is $14.47 and its 200 day moving average is $15.56.

Kanzhun (NASDAQ:BZ - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.48% and a net margin of 20.65%. Analysts forecast that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BZ has been the topic of several research analyst reports. Barclays boosted their target price on Kanzhun from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Sanford C. Bernstein cut Kanzhun from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Monday, December 9th. CLSA began coverage on Kanzhun in a report on Monday, November 18th. They issued an "outperform" rating and a $18.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating for the company in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.

Kanzhun Profile

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.