KLP Kapitalforvaltning AS Invests $773,000 in Kanzhun Limited (NASDAQ:BZ)

KLP Kapitalforvaltning AS purchased a new stake in Kanzhun Limited (NASDAQ:BZ) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 56,000 shares of the company’s stock, valued at approximately $773,000.

Several other institutional investors also recently bought and sold shares of BZ. PNC Financial Services Group Inc. raised its position in shares of Kanzhun by 107.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock valued at $41,000 after buying an additional 1,542 shares during the last quarter. Swiss National Bank raised its holdings in Kanzhun by 0.3% in the 4th quarter. Swiss National Bank now owns 600,966 shares of the company’s stock valued at $8,293,000 after acquiring an additional 1,900 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Kanzhun by 9.3% during the 4th quarter. Rhumbline Advisers now owns 24,185 shares of the company’s stock worth $334,000 after purchasing an additional 2,066 shares during the last quarter. US Bancorp DE grew its position in shares of Kanzhun by 6.0% in the fourth quarter. US Bancorp DE now owns 42,456 shares of the company’s stock valued at $586,000 after purchasing an additional 2,406 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Kanzhun by 10.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 42,263 shares of the company’s stock valued at $586,000 after purchasing an additional 4,000 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BZ has been the subject of several analyst reports. Sanford C. Bernstein restated a “market perform” rating and issued a $18.00 target price on shares of Kanzhun in a report on Wednesday, March 12th. Barclays boosted their target price on shares of Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kanzhun has an average rating of “Moderate Buy” and an average price target of $21.71.

Kanzhun Price Performance

Shares of BZ opened at $19.17 on Tuesday. The firm has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $15.28. The stock has a market cap of $7.30 billion, a PE ratio of 42.60 and a beta of 0.46. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74.

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.