Wellington Management Group LLP lifted its stake in shares of Kanzhun Limited (NASDAQ:BZ – Free Report) by 2.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,964,668 shares of the company’s stock after buying an additional 43,805 shares during the quarter. Wellington Management Group LLP’s holdings in Kanzhun were worth $37,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. National Pension Service raised its position in Kanzhun by 423.1% in the second quarter. National Pension Service now owns 6,800 shares of the company’s stock worth $179,000 after acquiring an additional 5,500 shares in the last quarter. Centiva Capital LP purchased a new position in Kanzhun in the second quarter worth $1,069,000. Goldman Sachs Group Inc. raised its position in Kanzhun by 40.7% in the second quarter. Goldman Sachs Group Inc. now owns 5,144,794 shares of the company’s stock worth $135,205,000 after acquiring an additional 1,487,391 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Kanzhun in the second quarter worth $1,225,000. Finally, Dimensional Fund Advisors LP purchased a new position in Kanzhun in the third quarter worth $234,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on BZ shares. Citigroup started coverage on Kanzhun in a report on Thursday, July 20th. They issued a “buy” rating and a $19.00 target price on the stock. Sanford C. Bernstein lowered their target price on Kanzhun from $27.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Macquarie cut Kanzhun from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $16.00 in a research report on Monday, August 21st. Daiwa Capital Markets initiated coverage on Kanzhun in a research report on Wednesday, July 12th. They set a “buy” rating and a $19.00 price objective for the company. Finally, UBS Group cut Kanzhun from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.50 to $17.00 in a research report on Thursday, August 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.
Kanzhun Price Performance
NASDAQ BZ opened at $14.71 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 133.74 and a beta of 0.46. Kanzhun Limited has a 1-year low of $9.74 and a 1-year high of $26.26. The business’s 50-day simple moving average is $15.89 and its 200-day simple moving average is $17.06.
About Kanzhun
Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.
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