Kanzhun (NASDAQ:BZ) Sees Large Volume Increase - Here's What Happened

Kanzhun Limited (NASDAQ:BZ - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 2,415,620 shares were traded during mid-day trading, a decline of 16% from the previous session's volume of 2,888,078 shares.The stock last traded at $14.04 and had previously closed at $13.33.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Barclays raised their price objective on Kanzhun from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. CLSA started coverage on Kanzhun in a research report on Monday, November 18th. They set an "outperform" rating and a $18.00 price objective on the stock. Finally, Sanford C. Bernstein cut Kanzhun from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $19.00 to $15.00 in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Kanzhun currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Kanzhun Price Performance

The company's 50-day moving average price is $13.77 and its 200-day moving average price is $14.58. The company has a market cap of $5.33 billion, a P/E ratio of 31.22 and a beta of 0.49.

Kanzhun (NASDAQ:BZ - Get Free Report) last announced its earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. Kanzhun had a return on equity of 10.48% and a net margin of 20.65%. On average, equities research analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

Institutional Trading of Kanzhun

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings 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 in the last quarter. Nordea Investment Management AB increased its holdings in Kanzhun by 13.8% in the 4th quarter. Nordea Investment Management AB now owns 282,510 shares of the company's stock worth $3,928,000 after purchasing an additional 34,284 shares in the last quarter. Franklin Resources Inc. raised its position in Kanzhun by 12.8% in the third quarter. Franklin Resources Inc. now owns 136,728 shares of the company's stock valued at $2,201,000 after purchasing an additional 15,497 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Kanzhun during the third quarter valued at about $662,000. Finally, Geode Capital Management LLC grew its holdings in shares of Kanzhun by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company's stock worth $31,404,000 after purchasing an additional 58,065 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

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.