Asset Management One Co. Ltd. Grows Stock Position in Kanzhun Limited (NASDAQ:BZ)

Asset Management One Co. Ltd. lifted its stake in Kanzhun Limited (NASDAQ:BZ) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,263 shares of the company’s stock after buying an additional 4,000 shares during the period. Asset Management One Co. Ltd.’s holdings in Kanzhun were worth $586,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BZ. Allspring Global Investments Holdings LLC grew its stake in shares of Kanzhun by 86.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,068,555 shares of the company’s stock worth $41,855,000 after purchasing an additional 1,419,579 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kanzhun by 112.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company’s stock worth $2,769,000 after purchasing an additional 106,226 shares during the last quarter. abrdn plc boosted its position in Kanzhun by 7.0% during the 4th quarter. abrdn plc now owns 204,520 shares of the company’s stock valued at $2,832,000 after acquiring an additional 13,452 shares in the last quarter. Jennison Associates LLC boosted its position in Kanzhun by 79.7% during the 4th quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock valued at $45,952,000 after acquiring an additional 1,476,693 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Kanzhun during the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analyst Ratings Changes

BZ has been the topic of several research reports. Citigroup cut their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Sanford C. Bernstein downgraded Kanzhun from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. CLSA began coverage on Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Barclays upped their price target on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Kanzhun currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Price Performance

NASDAQ BZ opened at $15.64 on Friday. The business’s fifty day moving average price is $14.44 and its 200-day moving average price is $14.32. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 34.76 and a beta of 0.49. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Equities research analysts anticipate that Kanzhun Limited will post 0.46 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.