Allspring Global Investments Holdings LLC Acquires 1,607,941 Shares of Kanzhun Limited (NASDAQ:BZ)

Allspring Global Investments Holdings LLC grew its stake in Kanzhun Limited (NASDAQ:BZ) by 3,918.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,648,976 shares of the company’s stock after purchasing an additional 1,607,941 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.43% of Kanzhun worth $28,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors LLC bought a new stake in Kanzhun in the second quarter valued at approximately $25,000. UMB Bank n.a. acquired a new position in shares of Kanzhun in the 3rd quarter valued at $42,000. Summit Securities Group LLC bought a new stake in shares of Kanzhun in the 2nd quarter valued at $44,000. Blue Trust Inc. raised its stake 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 buying an additional 1,347 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Kanzhun during the second quarter worth about $204,000. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Stock Performance

Shares of Kanzhun stock opened at $14.76 on Thursday. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74. The business’s 50 day simple moving average is $14.48 and its 200 day simple moving average is $17.21. The firm has a market cap of $5.62 billion, a PE ratio of 37.85 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The company had revenue of $263.75 million for the quarter, compared to the consensus estimate of $264.38 million. As a group, equities research analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on BZ. Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays dropped their target price 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kanzhun presently has a consensus 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.