4,642,023 Shares in Kanzhun Limited (NASDAQ:BZ) Purchased by Norges Bank

Norges Bank bought a new position in Kanzhun Limited (NASDAQ:BZ - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,642,023 shares of the company's stock, valued at approximately $64,060,000. Norges Bank owned approximately 1.22% of Kanzhun as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BZ. PNC Financial Services Group Inc. boosted its position in shares of Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company's stock worth $41,000 after purchasing an additional 1,542 shares in the last quarter. Swiss National Bank raised its stake in Kanzhun by 0.3% during the 4th quarter. Swiss National Bank now owns 600,966 shares of the company's stock worth $8,293,000 after buying an additional 1,900 shares during the period. Rhumbline Advisers boosted its holdings in Kanzhun by 9.3% in the fourth quarter. Rhumbline Advisers now owns 24,185 shares of the company's stock worth $334,000 after acquiring an additional 2,066 shares in the last quarter. US Bancorp DE grew its stake in Kanzhun by 6.0% in the fourth quarter. US Bancorp DE now owns 42,456 shares of the company's stock valued at $586,000 after acquiring an additional 2,406 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Kanzhun by 10.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 42,263 shares of the company's stock valued at $586,000 after acquiring an additional 4,000 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

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

Kanzhun Price Performance

Shares of BZ stock traded down $0.96 on Tuesday, hitting $14.15. The stock had a trading volume of 9,892,303 shares, compared to its average volume of 4,642,455. The business has a 50 day moving average of $17.10 and a 200 day moving average of $15.47. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 31.45 and a beta of 0.32.

Kanzhun Company 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.