Kanzhun Limited (NASDAQ:BZ) Position Trimmed by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 11.4% during the 1st quarter, HoldingsChannel reports. The fund owned 2,796,010 shares of the company’s stock after selling 361,390 shares during the period. Canada Pension Plan Investment Board’s holdings in Kanzhun were worth $49,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BZ. Norges Bank bought a new stake in Kanzhun during the fourth quarter worth approximately $98,023,000. Assenagon Asset Management S.A. lifted its holdings in shares of Kanzhun by 308.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,765,211 shares of the company’s stock worth $48,474,000 after buying an additional 2,087,745 shares during the last quarter. GGV Capital LLC lifted its holdings in shares of Kanzhun by 350.8% during the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock worth $41,489,000 after buying an additional 1,841,764 shares during the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of Kanzhun during the first quarter worth approximately $25,967,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Kanzhun by 21.8% during the fourth quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock worth $115,874,000 after buying an additional 1,247,997 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Price Performance

Shares of NASDAQ:BZ opened at $13.71 on Friday. The business’s fifty day moving average price is $19.33 and its two-hundred day moving average price is $17.98. Kanzhun Limited has a fifty-two week low of $12.57 and a fifty-two week high of $22.74. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 35.15 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Kanzhun had a return on equity of 9.73% and a net margin of 20.55%. The firm had revenue of $235.97 million for the quarter, compared to analysts’ expectations of $230.09 million. Research analysts expect that Kanzhun Limited will post 0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Daiwa America upgraded Kanzhun to a “hold” rating in a report on Thursday. UBS Group upped their price target on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. HSBC began coverage on Kanzhun in a research note on Friday, May 24th. They issued a “buy” rating and a $30.00 target price for the company. Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.71.

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.