Royal London Asset Management Ltd. Decreases Stake in Kanzhun Limited (NASDAQ:BZ)

Royal London Asset Management Ltd. trimmed its position in shares of Kanzhun Limited (NASDAQ:BZ) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 244,100 shares of the company’s stock after selling 178,100 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of Kanzhun worth $3,369,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kanzhun by 812.5% during the 3rd 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 acquiring an additional 6,339,911 shares in the last quarter. National Bank of Canada FI purchased a new stake in Kanzhun during the third quarter worth approximately $45,482,000. Nomura Asset Management Co. Ltd. boosted its holdings in Kanzhun by 7,012.9% in the third 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 in the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in Kanzhun in the fourth quarter valued at approximately $24,521,000. Finally, Jennison Associates LLC lifted its position in shares of Kanzhun by 79.7% during the 4th quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock worth $45,952,000 after buying an additional 1,476,693 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Up 0.2 %

Shares of BZ stock opened at $20.01 on Tuesday. The stock’s 50-day moving average price is $16.30 and its 200 day moving average price is $15.02. The stock has a market capitalization of $7.62 billion, a PE ratio of 44.47 and a beta of 0.46. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74.

Analysts Set New Price Targets

A number of research firms recently commented on BZ. Sanford C. Bernstein reiterated a “market perform” rating and set a $18.00 price target on shares of Kanzhun in a research note on Wednesday, March 12th. Barclays lifted their target price on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Finally, Citigroup dropped their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

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.