Franklin Resources Inc. Has $2.20 Million Stock Position in Kanzhun Limited (NASDAQ:BZ)

Franklin Resources Inc. raised its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,728 shares of the company’s stock after buying an additional 15,497 shares during the quarter. Franklin Resources Inc.’s holdings in Kanzhun were worth $2,201,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Kanzhun by 812.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock valued at $123,607,000 after purchasing an additional 6,339,911 shares in the last quarter. RWC Asset Advisors US LLC increased its holdings in Kanzhun by 79.8% during the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after buying an additional 2,529,725 shares during the last quarter. Federated Hermes Inc. raised its position in Kanzhun by 10.4% during the second quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock worth $100,988,000 after acquiring an additional 507,337 shares in the last quarter. State Street Corp lifted its stake in Kanzhun by 2.8% in the third quarter. State Street Corp now owns 5,084,631 shares of the company’s stock valued at $88,269,000 after acquiring an additional 138,804 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Kanzhun in the 3rd quarter valued at about $64,220,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Analysts Set New Price Targets

BZ has been the subject of several recent analyst reports. Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and cut their target price for the company from $19.00 to $15.00 in a research note on Monday, December 9th. Citigroup reduced their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Barclays increased their price target on Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, CLSA initiated coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock Performance

BZ stock opened at $13.76 on Friday. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74. The company has a market capitalization of $5.22 billion, a PE ratio of 30.58 and a beta of 0.50. The company’s 50-day simple moving average is $14.10 and its 200 day simple moving average is $15.22.

Kanzhun (NASDAQ:BZ) last announced its earnings results 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 net margin of 20.65% and a return on equity of 10.48%. On average, analysts forecast that Kanzhun Limited will post 0.47 EPS for the current 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.