Arrowstreet Capital Limited Partnership Sells 352,723 Shares of Kanzhun Limited (NASDAQ:BZ)

Arrowstreet Capital Limited Partnership cut its stake in Kanzhun Limited (NASDAQ:BZ - Free Report) by 67.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,506 shares of the company's stock after selling 352,723 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Kanzhun were worth $2,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Kanzhun by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company's stock valued at $198,687,000 after purchasing an additional 1,885,658 shares during the last quarter. Brilliance Asset Management Ltd. raised its stake in shares of Kanzhun by 7.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 7,300,256 shares of the company's stock valued at $100,744,000 after acquiring an additional 510,745 shares during the last quarter. State Street Corp boosted its holdings in shares of Kanzhun by 2.8% in 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 in the last quarter. Norges Bank bought a new stake in Kanzhun during the 4th quarter worth approximately $64,060,000. Finally, Assenagon Asset Management S.A. increased its holdings in Kanzhun by 2.1% during 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 in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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Kanzhun Stock Performance

Shares of BZ stock traded down $0.08 on Tuesday, hitting $14.46. The company's stock had a trading volume of 1,574,621 shares, compared to its average volume of 4,661,312. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The company has a market capitalization of $5.57 billion, a PE ratio of 32.07 and a beta of 0.32. The stock's 50 day moving average is $17.09 and its 200-day moving average is $15.45.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BZ. Barclays upped their target price on shares of Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $18.00 price objective on shares of Kanzhun in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.71.

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.