Kanzhun Limited (NASDAQ:BZ) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC raised its holdings in Kanzhun Limited (NASDAQ:BZ) by 320.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,079,975 shares of the company’s stock after purchasing an additional 822,849 shares during the period. Acadian Asset Management LLC owned about 0.28% of Kanzhun worth $20,296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BZ. Vanguard Group Inc. lifted its stake in Kanzhun by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock valued at $225,711,000 after buying an additional 203,594 shares in the last quarter. Brilliance Asset Management Ltd. lifted its position in shares of Kanzhun by 1.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 10,101,933 shares of the company’s stock valued at $167,793,000 after acquiring an additional 153,010 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Kanzhun by 21.8% in the fourth quarter. Wellington Management Group LLP now owns 6,976,129 shares of the company’s stock worth $115,874,000 after acquiring an additional 1,247,997 shares during the last quarter. Norges Bank purchased a new stake in shares of Kanzhun during the fourth quarter worth approximately $98,023,000. Finally, RWC Asset Advisors US LLC raised its stake in Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after purchasing an additional 2,529,725 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BZ. JPMorgan Chase & Co. upped their target price on shares of Kanzhun from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. HSBC initiated coverage on shares of Kanzhun in a research note on Friday, May 24th. They set a “buy” rating and a $30.00 price objective for the company. Barclays lowered their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Daiwa America raised Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Kanzhun Trading Down 1.9 %

Shares of NASDAQ:BZ opened at $12.23 on Tuesday. The business has a 50-day moving average price of $14.93 and a 200 day moving average price of $17.82. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 31.36 and a beta of 0.47.

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.