TD Asset Management Inc Trims Stock Holdings in Kanzhun Limited (NASDAQ:BZ)

TD Asset Management Inc cut its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 11.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 468,504 shares of the company’s stock after selling 63,444 shares during the quarter. TD Asset Management Inc’s holdings in Kanzhun were worth $8,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new position in Kanzhun in the second quarter worth $25,000. Summit Securities Group LLC acquired a new position in Kanzhun during the second quarter worth approximately $44,000. Blue Trust Inc. increased its position in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after purchasing an additional 1,347 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Kanzhun during the second quarter worth approximately $204,000. Finally, DNB Asset Management AS increased its position in Kanzhun by 21.7% during the second quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock worth $330,000 after purchasing an additional 3,123 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Trading Down 1.1 %

Shares of BZ stock opened at $12.10 on Wednesday. The company has a market capitalization of $4.61 billion, a PE ratio of 31.03 and a beta of 0.47. The firm has a fifty day simple moving average of $14.80 and a 200-day simple moving average of $17.80. Kanzhun Limited has a twelve month low of $10.57 and a twelve month high of $22.74.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BZ. HSBC began coverage on shares of Kanzhun in a research report on Friday, May 24th. They issued a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Kanzhun from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Daiwa America raised shares of Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, UBS Group increased their price objective on shares of Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

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.