Principal Financial Group Inc. Has $470,000 Stock Holdings in Kanzhun Limited (NASDAQ:BZ)

Principal Financial Group Inc. lowered its stake in Kanzhun Limited (NASDAQ:BZ) by 25.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,100 shares of the company’s stock after selling 9,288 shares during the quarter. Principal Financial Group Inc.’s holdings in Kanzhun were worth $470,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Kanzhun by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock worth $225,711,000 after acquiring an additional 203,594 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Kanzhun during the 1st quarter worth about $500,000. California State Teachers Retirement System boosted its stake in shares of Kanzhun by 80.5% during the 1st quarter. California State Teachers Retirement System now owns 62,681 shares of the company’s stock worth $1,099,000 after buying an additional 27,954 shares during the last quarter. Swedbank AB acquired a new stake in shares of Kanzhun in the first quarter valued at about $861,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock worth $565,000 after acquiring an additional 1,977 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $12.76 on Monday. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74. The business’s 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $16.45. The firm has a market cap of $4.84 billion, a P/E ratio of 29.67 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The company had revenue of $263.75 million during the quarter, compared to the consensus estimate of $264.38 million. On average, equities analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BZ shares. CLSA started coverage on Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 price target on the stock. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

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.