Kanzhun (NASDAQ:BZ) Shares Gap Down to $23.90

Kanzhun Limited (NASDAQ:BZ – Get Rating) gapped down prior to trading on Thursday . The stock had previously closed at 23.90, but opened at 23.23. Kanzhun shares last traded at 22.71, with a volume of 8,422 shares.

Analyst Ratings Changes

BZ has been the topic of several analyst reports. Barclays cut their price target on shares of Kanzhun from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, October 28th. The Goldman Sachs Group raised shares of Kanzhun from a “neutral” rating to a “buy” rating and cut their price target for the stock from $27.50 to $23.00 in a research report on Monday, November 14th.

Kanzhun Stock Performance

The firm’s 50-day simple moving average is 18.74 and its 200 day simple moving average is 19.97. The stock has a market capitalization of $8.91 billion, a P/E ratio of 125.22 and a beta of 0.03.

Institutional Investors Weigh In On Kanzhun

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Kanzhun by 20.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 24,604,622 shares of the company’s stock valued at $415,328,000 after purchasing an additional 4,113,569 shares during the period. Tiger Global Management LLC raised its holdings in Kanzhun by 52.9% in the 3rd quarter. Tiger Global Management LLC now owns 17,820,415 shares of the company’s stock valued at $300,809,000 after acquiring an additional 6,164,992 shares during the period. BlackRock Inc. raised its holdings in Kanzhun by 57.6% in the 3rd quarter. BlackRock Inc. now owns 8,927,652 shares of the company’s stock valued at $150,698,000 after acquiring an additional 3,263,310 shares during the period. Vanguard Group Inc. raised its holdings in Kanzhun by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,286,461 shares of the company’s stock valued at $89,236,000 after acquiring an additional 228,995 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Kanzhun by 40.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,144,794 shares of the company’s stock valued at $135,205,000 after acquiring an additional 1,487,391 shares during the period. 48.38% of the stock is owned by institutional investors.

About Kanzhun

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Kanzhun Limited operates an online recruitment platform, BOSS Zhipin in the People's Republic of China. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations. The company was founded in 2013 and is headquartered in Beijing, the People's Republic of China.