Kanzhun Limited (NASDAQ:BZ) Holdings Raised by Jennison Associates LLC

Jennison Associates LLC increased its stake in Kanzhun Limited (NASDAQ:BZ) by 79.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,329,853 shares of the company’s stock after acquiring an additional 1,476,693 shares during the period. Jennison Associates LLC’s holdings in Kanzhun were worth $45,952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $123,607,000 after buying an additional 6,339,911 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Kanzhun during the 3rd quarter worth about $64,220,000. National Bank of Canada FI purchased a new position in Kanzhun during the 3rd quarter valued at about $45,482,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Kanzhun by 7,012.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock valued at $40,378,000 after purchasing an additional 2,293,229 shares during the period. Finally, WCM Investment Management LLC lifted its position in shares of Kanzhun by 109.3% in the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after purchasing an additional 1,649,411 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Price Performance

Shares of NASDAQ:BZ opened at $15.25 on Wednesday. The business’s fifty day moving average price is $14.04 and its two-hundred day moving average price is $14.20. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 33.89 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. Research analysts expect that Kanzhun Limited will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.