Sumitomo Mitsui Trust Group Inc. Buys 16,000 Shares of Kanzhun Limited (NASDAQ:BZ)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 600,510 shares of the company’s stock after purchasing an additional 16,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kanzhun were worth $10,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BZ. Assenagon Asset Management S.A. bought a new stake in Kanzhun during the 3rd quarter valued at approximately $64,220,000. RWC Asset Advisors US LLC boosted its stake in Kanzhun by 79.8% during 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 period. WCM Investment Management LLC boosted its stake in Kanzhun by 109.3% during the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after purchasing an additional 1,649,411 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Kanzhun by 3,918.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock valued at $28,626,000 after purchasing an additional 1,607,941 shares during the period. Finally, AQR Capital Management LLC bought a new stake in Kanzhun during the 2nd quarter valued at approximately $28,705,000. Institutional investors own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays decreased their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Daiwa America upgraded Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Trading Down 0.4 %

Shares of BZ opened at $13.44 on Monday. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The stock has a 50 day simple moving average of $14.92 and a 200-day simple moving average of $16.69. The stock has a market cap of $5.12 billion, a PE ratio of 31.26 and a beta of 0.55.

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

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.