DNB Asset Management AS Boosts Stake in Kanzhun Limited (NASDAQ:BZ)

DNB Asset Management AS lifted its holdings in Kanzhun Limited (NASDAQ:BZ) by 21.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 17,544 shares of the company’s stock after purchasing an additional 3,123 shares during the quarter. DNB Asset Management AS’s holdings in Kanzhun were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Kanzhun during the fourth quarter worth about $98,023,000. Goldman Sachs Group Inc. lifted its position in shares of Kanzhun by 21.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock valued at $82,688,000 after acquiring an additional 877,342 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Kanzhun by 31.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock worth $2,634,000 after acquiring an additional 35,700 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Kanzhun by 49.9% during the fourth quarter. Russell Investments Group Ltd. now owns 353,341 shares of the company’s stock worth $5,866,000 after purchasing an additional 117,663 shares in the last quarter. Finally, StepStone Group LP acquired a new position in Kanzhun in the 4th quarter valued at $1,432,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BZ shares. Daiwa America raised shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. HSBC assumed coverage on shares of Kanzhun in a research note on Friday, May 24th. They issued a “buy” rating and a $30.00 target price on the stock. Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, UBS Group lifted their price objective on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Kanzhun currently has an average rating of “Moderate Buy” and a consensus price target of $23.71.

Kanzhun Trading Up 3.1 %

BZ stock traded up $0.42 during midday trading on Wednesday, hitting $14.19. 729,682 shares of the company’s stock were exchanged, compared to its average volume of 3,767,992. Kanzhun Limited has a 1-year low of $12.57 and a 1-year high of $22.74. The stock has a market capitalization of $5.40 billion, a PE ratio of 35.74 and a beta of 0.48. The business has a 50-day simple moving average of $18.18 and a two-hundred day simple moving average of $17.96.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $235.97 million for the quarter, compared to analyst estimates of $230.09 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. As a group, research analysts expect that Kanzhun Limited will post 0.5 EPS 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.