Skandinaviska Enskilda Banken AB publ Buys 58,900 Shares of Kanzhun Limited (NASDAQ:BZ)

Skandinaviska Enskilda Banken AB publ lifted its stake in Kanzhun Limited (NASDAQ:BZ) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,000 shares of the company’s stock after purchasing an additional 58,900 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.12% of Kanzhun worth $8,690,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Kanzhun by 1.6% in the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock worth $225,711,000 after purchasing an additional 203,594 shares during the last quarter. Brilliance Asset Management Ltd. grew its holdings in Kanzhun by 1.5% during the 4th quarter. Brilliance Asset Management Ltd. now owns 10,101,933 shares of the company’s stock worth $167,793,000 after acquiring an additional 153,010 shares in the last quarter. Wellington Management Group LLP grew its holdings in Kanzhun by 21.8% during the 4th quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock worth $115,874,000 after acquiring an additional 1,247,997 shares in the last quarter. Norges Bank bought a new position in Kanzhun during the 4th quarter worth about $98,023,000. Finally, RWC Asset Advisors US LLC grew its holdings 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 acquiring an additional 2,529,725 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BZ has been the topic of several recent research reports. Barclays dropped their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Stock Performance

BZ stock opened at $12.55 on Friday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 32.18 and a beta of 0.47. The firm has a 50-day simple moving average of $13.67 and a two-hundred day simple moving average of $17.57. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. As a group, equities analysts predict 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.