Kanzhun Limited (NASDAQ:BZ) Stake Cut by APG Asset Management N.V.

APG Asset Management N.V. cut its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 66.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,500 shares of the company’s stock after selling 206,724 shares during the quarter. APG Asset Management N.V.’s holdings in Kanzhun were worth $1,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BZ. Atlas Capital Advisors LLC acquired a new position in shares of Kanzhun in the second quarter worth $25,000. Summit Securities Group LLC purchased a new position in Kanzhun in the second quarter valued at about $44,000. Blue Trust Inc. increased its position in Kanzhun by 21.4% in 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. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Kanzhun during the 2nd quarter worth about $204,000. Finally, DNB Asset Management AS grew its stake 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 valued at $330,000 after buying an additional 3,123 shares in the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

BZ has been the topic of several recent research reports. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays cut their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Finally, Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Stock Up 1.0 %

Shares of BZ stock opened at $17.36 on Tuesday. The business’s 50 day moving average is $13.51 and its two-hundred day moving average is $17.46. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The company has a market cap of $6.60 billion, a PE ratio of 44.51 and a beta of 0.47.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The firm had revenue of $263.75 million for the quarter, compared to the consensus estimate of $264.38 million. As a group, equities analysts expect that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

About Kanzhun

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.