Kanzhun Limited (NASDAQ:BZ) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of Kanzhun Limited (NASDAQ:BZ) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,095,341 shares of the company’s stock after selling 137,811 shares during the period. Jennison Associates LLC owned 0.29% of Kanzhun worth $18,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BZ. PNC Financial Services Group Inc. increased its holdings in shares of Kanzhun by 32.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock valued at $56,000 after buying an additional 890 shares in the last quarter. Aigen Investment Management LP purchased a new position in Kanzhun during the 3rd quarter worth approximately $182,000. Schwab Charitable Fund purchased a new position in Kanzhun during the 4th quarter worth approximately $182,000. Deltec Asset Management LLC purchased a new position in Kanzhun during the 3rd quarter worth approximately $198,000. Finally, DNB Asset Management AS purchased a new position in Kanzhun during the 4th quarter worth approximately $207,000. Institutional investors own 60.67% of the company’s stock.

Kanzhun Price Performance

Kanzhun stock opened at $19.60 on Friday. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 59.40 and a beta of 0.59. Kanzhun Limited has a fifty-two week low of $12.57 and a fifty-two week high of $21.32. The firm has a fifty day moving average price of $17.79 and a two-hundred day moving average price of $16.16.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. The firm had revenue of $222.57 million during the quarter, compared to analyst estimates of $215.66 million. As a group, sell-side analysts expect that Kanzhun Limited will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BZ has been the topic of several research analyst reports. TheStreet upgraded shares of Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. New Street Research upgraded shares of Kanzhun from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.00 to $25.00 in a report on Wednesday, March 13th. Barclays boosted their price target on shares of Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Finally, Macquarie upgraded shares of Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.38.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.