Kanzhun Limited (NASDAQ:BZ) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in Kanzhun Limited (NASDAQ:BZ) by 10.3% in the third quarter, Holdings Channel reports. The fund owned 65,816 shares of the company’s stock after selling 7,592 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Kanzhun were worth $1,124,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Kanzhun during the third quarter valued at about $64,220,000. Allspring Global Investments Holdings LLC boosted its holdings in Kanzhun by 3,918.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock valued at $28,626,000 after purchasing an additional 1,607,941 shares during the last quarter. UMB Bank n.a. acquired a new stake in Kanzhun during the 3rd quarter valued at approximately $42,000. SIH Partners LLLP purchased a new stake in Kanzhun during the 2nd quarter worth approximately $282,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Kanzhun by 127.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company’s stock valued at $48,519,000 after purchasing an additional 1,446,033 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $14.66 on Friday. The company’s fifty day moving average is $14.55 and its two-hundred day moving average is $17.01. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 34.09 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The firm had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. Sell-side analysts expect that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Barclays dropped their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, Daiwa America raised shares of Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.