DNB Asset Management AS Boosts Position in Kanzhun Limited (NASDAQ:BZ)

DNB Asset Management AS lifted its position in Kanzhun Limited (NASDAQ:BZ) by 21.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,544 shares of the company’s stock after buying an additional 3,123 shares during the quarter. DNB Asset Management AS’s holdings in Kanzhun were worth $330,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BZ. Asset Management One Co. Ltd. increased its stake in Kanzhun by 62.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 50,885 shares of the company’s stock worth $830,000 after acquiring an additional 19,483 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Kanzhun by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 178,796 shares of the company’s stock worth $2,970,000 after purchasing an additional 29,744 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Kanzhun by 3.9% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 510,776 shares of the company’s stock valued at $8,484,000 after purchasing an additional 19,024 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Kanzhun in the 4th quarter worth approximately $14,579,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Kanzhun by 16.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock valued at $398,000 after buying an additional 3,470 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Trading Up 3.1 %

Shares of BZ stock traded up $0.42 during trading hours on Wednesday, reaching $14.19. The company’s stock had a trading volume of 729,682 shares, compared to its average volume of 3,767,992. The stock has a market capitalization of $5.40 billion, a P/E ratio of 35.74 and a beta of 0.48. The firm’s fifty day simple moving average is $18.18 and its 200 day simple moving average is $17.96. Kanzhun Limited has a one year low of $12.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $235.97 million for the quarter, compared to the consensus estimate of $230.09 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. As a group, equities research analysts forecast that Kanzhun Limited will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on BZ shares. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. HSBC started coverage on Kanzhun in a report on Friday, May 24th. They set a “buy” rating and a $30.00 price objective on the stock. UBS Group upped their target price on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.71.

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.