State of New Jersey Common Pension Fund D Boosts Stock Position in Kanzhun Limited (NASDAQ:BZ)

State of New Jersey Common Pension Fund D lifted its position in shares of Kanzhun Limited (NASDAQ:BZ) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,950 shares of the company’s stock after buying an additional 11,978 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Kanzhun worth $3,645,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BZ. Vanguard Group Inc. grew its holdings in shares of Kanzhun by 1.6% in the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock worth $225,711,000 after purchasing an additional 203,594 shares during the last quarter. RWC Asset Advisors US LLC grew its holdings in Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after acquiring an additional 2,529,725 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Kanzhun by 10.4% in the second quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock valued at $100,988,000 after acquiring an additional 507,337 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Kanzhun during the third quarter valued at about $64,220,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Kanzhun by 3.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,896,010 shares of the company’s stock worth $54,474,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BZ shares. Barclays reduced their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Daiwa America raised Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Finally, Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” 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 company’s stock. According to MarketBeat.com, Kanzhun presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun Trading Down 5.0 %

Kanzhun stock opened at $13.79 on Wednesday. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 32.07 and a beta of 0.55. The business’s fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $16.84.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company 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%. On average, equities research analysts predict that Kanzhun Limited will post 0.47 EPS for the current year.

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.