Geode Capital Management LLC Boosts Stake in Kanzhun Limited (NASDAQ:BZ)

Geode Capital Management LLC lifted its holdings in Kanzhun Limited (NASDAQ:BZ) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,822,128 shares of the company’s stock after buying an additional 58,065 shares during the period. Geode Capital Management LLC owned approximately 0.48% of Kanzhun worth $31,404,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in shares of Kanzhun by 265.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock worth $24,957,000 after buying an additional 964,110 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Kanzhun in the second quarter valued at about $772,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kanzhun by 144.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 176,158 shares of the company’s stock valued at $3,314,000 after acquiring an additional 104,220 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Kanzhun during the 2nd quarter worth approximately $684,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Kanzhun by 3.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,038,103 shares of the company’s stock worth $19,527,000 after purchasing an additional 30,491 shares during the period. 60.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Sanford C. Bernstein lowered Kanzhun from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $19.00 to $15.00 in a report on Monday, December 9th. CLSA initiated coverage on Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price target for the company. Barclays boosted their price objective on Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup reduced their target price on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Trading Up 0.4 %

Shares of NASDAQ:BZ opened at $13.79 on Thursday. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The stock has a market cap of $5.23 billion, a P/E ratio of 30.65 and a beta of 0.50. The company has a 50 day moving average of $14.14 and a 200 day moving average of $15.23.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.48%. On average, equities analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

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.