Skandinaviska Enskilda Banken AB publ Cuts Stake in Kanzhun Limited (NASDAQ:BZ)

Skandinaviska Enskilda Banken AB publ lessened its holdings in Kanzhun Limited (NASDAQ:BZ - Free Report) by 77.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,200 shares of the company's stock after selling 34,800 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Kanzhun were worth $140,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BZ. Nomura Asset Management Co. Ltd. raised its holdings in Kanzhun by 7,012.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company's stock valued at $40,378,000 after acquiring an additional 2,293,229 shares in the last quarter. Barclays PLC raised its holdings in shares of Kanzhun by 58.7% in the 3rd quarter. Barclays PLC now owns 450,663 shares of the company's stock valued at $7,824,000 after purchasing an additional 166,683 shares in the last quarter. Monolith Management Ltd purchased a new stake in shares of Kanzhun during the 3rd quarter worth $4,340,000. Union Bancaire Privee UBP SA acquired a new position in shares of Kanzhun during the fourth quarter worth $333,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Kanzhun by 112.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company's stock valued at $2,769,000 after buying an additional 106,226 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

Kanzhun Price Performance

Shares of BZ traded down $0.31 during mid-day trading on Friday, reaching $19.98. 4,930,619 shares of the company's stock were exchanged, compared to its average volume of 4,173,787. The business's fifty day simple moving average is $16.17 and its 200-day simple moving average is $14.93. The stock has a market capitalization of $7.61 billion, a PE ratio of 44.40 and a beta of 0.46. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BZ. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Barclays upped their price target on Kanzhun from $16.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Finally, Citigroup cut their price objective on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, November 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.71.

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.