36,388 Shares in Kanzhun Limited (NASDAQ:BZ) Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new position in shares of Kanzhun Limited (NASDAQ:BZ) during the second quarter, Holdings Channel.com reports. The fund bought 36,388 shares of the company’s stock, valued at approximately $684,000.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Kanzhun during the 2nd quarter valued at $44,000. Blue Trust Inc. raised its holdings in Kanzhun by 21.4% during the 2nd 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. DNB Asset Management AS lifted its position in shares of Kanzhun by 21.7% in the 2nd 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 period. Quadrature Capital Ltd bought a new stake in shares of Kanzhun in the 4th quarter valued at $348,000. Finally, Bayesian Capital Management LP acquired a new stake in Kanzhun during the 1st quarter worth about $500,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Price Performance

Shares of BZ opened at $12.16 on Friday. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The company has a market capitalization of $4.63 billion, a P/E ratio of 31.18 and a beta of 0.47. The firm’s 50 day simple moving average is $14.29 and its 200 day simple moving average is $17.68.

Analyst Ratings Changes

BZ has been the topic of several recent analyst reports. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. UBS Group boosted 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 Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Daiwa America raised Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kanzhun currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.