Sei Investments Co. Trims Stock Position in Kanzhun Limited (NASDAQ:BZ)

Sei Investments Co. reduced its stake in Kanzhun Limited (NASDAQ:BZ) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,244,163 shares of the company’s stock after selling 132,733 shares during the quarter. Sei Investments Co. owned 0.33% of Kanzhun worth $17,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 valued at $123,607,000 after acquiring an additional 6,339,911 shares during the period. State Street Corp raised its holdings in Kanzhun by 2.8% during the third quarter. State Street Corp now owns 5,084,631 shares of the company’s stock worth $88,269,000 after purchasing an additional 138,804 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Kanzhun by 2.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company’s stock worth $52,136,000 after purchasing an additional 78,697 shares in the last quarter. Jennison Associates LLC grew its holdings in Kanzhun by 79.7% in the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock valued at $45,952,000 after purchasing an additional 1,476,693 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position 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 valued at $41,855,000 after buying an additional 1,419,579 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered their price target 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. Barclays raised their price target on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.71.

Kanzhun Stock Performance

Shares of BZ stock opened at $20.06 on Friday. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 44.58 and a beta of 0.46. The company has a 50 day moving average price of $16.66 and a 200 day moving average price of $15.14. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74.

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.