Wellington Management Group LLP Trims Stake in Kanzhun Limited (NASDAQ:BZ)

Wellington Management Group LLP reduced its position in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 43.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,725,809 shares of the company's stock after selling 5,224,967 shares during the quarter. Wellington Management Group LLP owned about 1.77% of Kanzhun worth $116,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BZ. Atlas Capital Advisors LLC acquired a new stake in shares of Kanzhun in the 2nd quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in Kanzhun in the second quarter worth $44,000. UMB Bank n.a. bought a new position in shares of Kanzhun during the third quarter worth $42,000. Van ECK Associates Corp bought a new stake in shares of Kanzhun in the third quarter worth about $61,000. Finally, Blue Trust Inc. raised its position in shares of Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company's stock worth $134,000 after purchasing an additional 1,347 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BZ has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered shares of Kanzhun from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $19.00 to $15.00 in a report on Monday. Citigroup cut their price target on Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, November 29th. CLSA assumed coverage on Kanzhun in a research report on Monday, November 18th. They set an "outperform" rating and a $18.00 price objective for the company. Finally, Barclays lifted their target price on Kanzhun from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Kanzhun Stock Down 8.0 %

Shares of BZ traded down $1.23 during trading hours on Tuesday, hitting $14.11. 9,383,651 shares of the company were exchanged, compared to its average volume of 4,155,358. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 32.81 and a beta of 0.50. The firm's fifty day moving average is $14.90 and its 200 day moving average is $15.79. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

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.