Allspring Global Investments Holdings LLC Buys 1,419,579 Shares of Kanzhun Limited (NASDAQ:BZ)

Allspring Global Investments Holdings LLC increased its stake in Kanzhun Limited (NASDAQ:BZ) by 86.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,068,555 shares of the company’s stock after purchasing an additional 1,419,579 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kanzhun were worth $41,855,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BZ. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kanzhun by 112.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company’s stock worth $2,769,000 after purchasing an additional 106,226 shares during the period. abrdn plc boosted its stake in shares of Kanzhun by 7.0% during the 4th quarter. abrdn plc now owns 204,520 shares of the company’s stock worth $2,832,000 after acquiring an additional 13,452 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Kanzhun by 79.7% during the 4th quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock worth $45,952,000 after acquiring an additional 1,476,693 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kanzhun in the 4th quarter worth $63,000. Finally, Matthews International Capital Management LLC raised its holdings in Kanzhun by 84.3% in the 4th quarter. Matthews International Capital Management LLC now owns 848,290 shares of the company’s stock worth $11,706,000 after purchasing an additional 388,080 shares during the period. Institutional investors own 60.67% of the company’s stock.

Wall Street Analysts Forecast Growth

BZ has been the subject of a number of analyst reports. CLSA began coverage on Kanzhun in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Barclays increased their target price on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup dropped their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Kanzhun Stock Up 3.7 %

Shares of BZ stock opened at $16.49 on Friday. The company’s fifty day simple moving average is $14.35 and its two-hundred day simple moving average is $14.26. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74. The stock has a market cap of $6.28 billion, a P/E ratio of 36.65 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. On average, analysts anticipate that Kanzhun Limited will post 0.46 EPS 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.