Principal Financial Group Inc. Sells 9,288 Shares of Kanzhun Limited (NASDAQ:BZ)

Principal Financial Group Inc. cut its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 25.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,100 shares of the company’s stock after selling 9,288 shares during the period. Principal Financial Group Inc.’s holdings in Kanzhun were worth $470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors LLC purchased a new position in shares of Kanzhun in the 2nd quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in Kanzhun in the second quarter worth approximately $44,000. UMB Bank n.a. bought a new position in Kanzhun during the third quarter valued at approximately $42,000. Van ECK Associates Corp purchased a new position in shares of Kanzhun during the third quarter worth approximately $61,000. Finally, Blue Trust Inc. lifted its holdings in shares of 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 acquiring an additional 1,347 shares during the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Performance

Shares of NASDAQ BZ opened at $12.76 on Monday. The firm’s fifty day moving average is $15.04 and its two-hundred day moving average is $16.45. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74. The company has a market cap of $4.84 billion, a P/E ratio of 29.67 and a beta of 0.55.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BZ. CLSA assumed coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 price target for the company. Barclays dropped their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.50.

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.