Northwest & Ethical Investments L.P. Cuts Holdings in Kanzhun Limited (NASDAQ:BZ)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 33.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,706 shares of the company’s stock after selling 11,256 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Kanzhun were worth $313,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BZ. Swiss National Bank raised its stake in shares of Kanzhun by 4.9% during the 3rd quarter. Swiss National Bank now owns 599,066 shares of the company’s stock worth $10,400,000 after buying an additional 28,239 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kanzhun in the 3rd quarter worth approximately $2,308,000. Jennison Associates LLC grew its holdings in shares of Kanzhun by 58.8% in the 3rd quarter. Jennison Associates LLC now owns 1,853,160 shares of the company’s stock worth $32,171,000 after acquiring an additional 686,245 shares during the period. Citigroup Inc. grew its holdings in shares of Kanzhun by 149.2% in the 3rd quarter. Citigroup Inc. now owns 2,343,278 shares of the company’s stock worth $40,679,000 after acquiring an additional 1,402,885 shares during the period. Finally, Pitcairn Co. acquired a new stake in shares of Kanzhun in the 3rd quarter worth approximately $733,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $19.98 on Friday. The business’s fifty day moving average price is $16.17 and its two-hundred day moving average price is $14.93. The stock has a market cap of $7.61 billion, a PE ratio of 44.40 and a beta of 0.46. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BZ. Citigroup lowered their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Barclays upped their price target on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $18.00 price target on shares of Kanzhun in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.71.

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.