Sumitomo Mitsui Trust Holdings Inc. Purchases 19,024 Shares of Kanzhun Limited (NASDAQ:BZ)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Kanzhun Limited (NASDAQ:BZ) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,776 shares of the company’s stock after purchasing an additional 19,024 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.14% of Kanzhun worth $8,484,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Deltec Asset Management LLC bought a new position in shares of Kanzhun in the 3rd quarter valued at about $198,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Kanzhun by 26.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 590,949 shares of the company’s stock valued at $8,965,000 after acquiring an additional 122,483 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kanzhun by 42.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 729,838 shares of the company’s stock valued at $11,072,000 after acquiring an additional 216,149 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kanzhun by 55.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,369 shares of the company’s stock valued at $885,000 after acquiring an additional 20,800 shares in the last quarter. Finally, RWC Asset Advisors US LLC bought a new position in shares of Kanzhun in the 3rd quarter valued at about $13,664,000. Institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BZ shares. TheStreet upgraded Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. Macquarie upgraded shares of Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th. New Street Research upgraded shares of Kanzhun from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $25.00 in a research note on Wednesday, March 13th. Finally, Barclays raised their target price on shares of Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.38.

Kanzhun Stock Up 2.7 %

Shares of BZ stock opened at $18.77 on Wednesday. The firm has a 50 day moving average price of $17.61 and a two-hundred day moving average price of $16.12. The company has a market capitalization of $7.05 billion, a PE ratio of 56.88 and a beta of 0.59. Kanzhun Limited has a 12-month low of $12.57 and a 12-month high of $21.32.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $222.57 million during the quarter, compared to the consensus estimate of $215.66 million. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. As a group, research analysts expect that Kanzhun Limited will post 0.42 EPS for the current year.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.