State of New Jersey Common Pension Fund D Acquires 96,076 Shares of Kanzhun Limited (NASDAQ:BZ)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 94.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,972 shares of the company’s stock after purchasing an additional 96,076 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of Kanzhun worth $3,724,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BZ. Norges Bank bought a new stake in shares of Kanzhun during the 4th quarter worth $98,023,000. RWC Asset Advisors US LLC raised its stake in Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after acquiring an additional 2,529,725 shares during the period. GGV Capital LLC raised its stake in Kanzhun by 350.8% in the 1st quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock valued at $41,489,000 after acquiring an additional 1,841,764 shares during the period. Thornburg Investment Management Inc. bought a new stake in Kanzhun in the 1st quarter valued at about $25,967,000. Finally, Candriam S.C.A. raised its stake in Kanzhun by 168.4% in the 2nd quarter. Candriam S.C.A. now owns 2,059,000 shares of the company’s stock valued at $38,728,000 after acquiring an additional 1,292,000 shares during the period. 60.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BZ shares. Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. HSBC assumed coverage on Kanzhun in a report on Friday, May 24th. They set a “buy” rating and a $30.00 target price for the company. Barclays reduced their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. UBS Group lifted their target price on Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Finally, Daiwa America raised Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kanzhun presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Price Performance

Shares of BZ opened at $12.44 on Wednesday. The firm has a market cap of $4.73 billion, a P/E ratio of 31.90 and a beta of 0.47. The stock has a 50 day simple moving average of $14.06 and a two-hundred day simple moving average of $17.66. Kanzhun Limited has a 1 year low of $10.57 and a 1 year 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.