Assenagon Asset Management S.A. Purchases Shares of 3,699,294 Kanzhun Limited (NASDAQ:BZ)

Assenagon Asset Management S.A. acquired a new position in shares of Kanzhun Limited (NASDAQ:BZ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,699,294 shares of the company’s stock, valued at approximately $64,220,000. Assenagon Asset Management S.A. owned 0.97% of Kanzhun as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in BZ. Vanguard Group Inc. raised its stake in shares of Kanzhun by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 12,672,081 shares of the company’s stock valued at $210,483,000 after purchasing an additional 56,649 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Kanzhun by 1.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 520,667 shares of the company’s stock valued at $9,127,000 after buying an additional 9,891 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Kanzhun during the 1st quarter worth about $737,000. Jennison Associates LLC boosted its position in shares of Kanzhun by 7.5% during the 1st quarter. Jennison Associates LLC now owns 1,177,628 shares of the company’s stock valued at $20,644,000 after acquiring an additional 82,287 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Kanzhun in the first quarter valued at about $1,409,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Daiwa America raised Kanzhun to a “hold” rating in a report on Thursday, July 25th. Barclays lowered their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun Trading Down 3.1 %

Shares of BZ stock opened at $14.30 on Friday. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 36.67 and a beta of 0.52. The firm’s 50 day moving average is $14.48 and its 200-day moving average is $17.19. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. On average, equities research analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

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.