Geode Capital Management LLC Acquires 58,065 Shares of Kanzhun Limited (NASDAQ:BZ)

Geode Capital Management LLC increased its holdings in Kanzhun Limited (NASDAQ:BZ) by 3.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,822,128 shares of the company’s stock after acquiring an additional 58,065 shares during the period. Geode Capital Management LLC’s holdings in Kanzhun were worth $31,404,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Kanzhun by 265.8% during the second quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock valued at $24,957,000 after buying an additional 964,110 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Kanzhun during the 2nd quarter valued at about $772,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kanzhun by 144.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 176,158 shares of the company’s stock worth $3,314,000 after acquiring an additional 104,220 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Kanzhun in the 2nd quarter worth approximately $684,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Kanzhun by 3.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,038,103 shares of the company’s stock valued at $19,527,000 after purchasing an additional 30,491 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Barclays raised their price target on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. CLSA started coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Citigroup cut their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Kanzhun presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock Performance

BZ stock opened at $13.79 on Thursday. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 30.65 and a beta of 0.50. The business’s 50 day moving average price is $14.14 and its two-hundred day moving average price is $15.23.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a return on equity of 10.48% and a net margin of 20.65%. Sell-side analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current year.

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.