Principal Financial Group Inc. Sells 9,288 Shares of Kanzhun Limited (NASDAQ:BZ)

Principal Financial Group Inc. trimmed its stake in Kanzhun Limited (NASDAQ:BZ) by 25.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Kanzhun by 812.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock valued at $123,607,000 after purchasing an additional 6,339,911 shares in the last quarter. Federated Hermes Inc. lifted its stake in Kanzhun by 10.4% during the 2nd quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock valued at $100,988,000 after acquiring an additional 507,337 shares in the last quarter. State Street Corp boosted its holdings in Kanzhun by 2.8% during the 3rd quarter. State Street Corp now owns 5,084,631 shares of the company’s stock worth $88,269,000 after acquiring an additional 138,804 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Kanzhun in the 3rd quarter worth $64,220,000. Finally, Tekne Capital Management LLC raised its holdings in shares of Kanzhun by 16.0% in the third quarter. Tekne Capital Management LLC now owns 3,482,903 shares of the company’s stock valued at $60,463,000 after purchasing an additional 480,083 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BZ. Citigroup decreased their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. CLSA began coverage on Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Barclays boosted their price target on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Kanzhun presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Stock Performance

BZ stock opened at $13.95 on Monday. The company has a market capitalization of $5.29 billion, a PE ratio of 31.00 and a beta of 0.50. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74. The company’s 50 day moving average price is $13.96 and its two-hundred day moving average price is $14.90.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Wednesday, December 11th. The company reported $0.15 EPS 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, research analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

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.