Assenagon Asset Management S.A. Purchases New Shares in Kanzhun Limited (NASDAQ:BZ)

Assenagon Asset Management S.A. bought a new stake in Kanzhun Limited (NASDAQ:BZ - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,699,294 shares of the company's stock, valued at approximately $64,220,000. Assenagon Asset Management S.A. owned approximately 0.97% of Kanzhun as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. RWC Asset Advisors US LLC raised its stake in 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 buying an additional 2,529,725 shares during the period. GGV Capital LLC lifted its holdings in shares of Kanzhun by 350.8% during the 1st quarter. GGV Capital LLC now owns 2,366,764 shares of the company's stock valued at $41,489,000 after purchasing an additional 1,841,764 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Kanzhun by 3,918.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company's stock valued at $28,626,000 after purchasing an additional 1,607,941 shares during the period. AQR Capital Management LLC bought a new stake in Kanzhun during the 2nd quarter worth approximately $28,705,000. Finally, Thornburg Investment Management Inc. bought a new position in Kanzhun in the first quarter valued at approximately $25,967,000. Institutional investors and hedge funds own 60.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BZ shares. 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. Daiwa America raised Kanzhun to a "hold" rating in a research note on Thursday, July 25th. Finally, Daiwa Capital Markets cut Kanzhun from a "buy" rating to a "neutral" rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.40.

Kanzhun Stock Up 4.1 %

Shares of BZ stock traded up $0.59 on Friday, reaching $14.89. The stock had a trading volume of 5,301,788 shares, compared to its average volume of 4,151,581. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 38.18 and a beta of 0.52. The firm's 50-day moving average is $14.49 and its two-hundred day moving average is $17.16.

Kanzhun (NASDAQ:BZ - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. On average, sell-side analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal 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.