E Fund Management Co. Ltd. Lowers Stock Position in Kanzhun Limited (NASDAQ:BZ)

E Fund Management Co. Ltd. lowered its position in Kanzhun Limited (NASDAQ:BZ) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,232,682 shares of the company’s stock after selling 170,977 shares during the period. Kanzhun comprises about 1.5% of E Fund Management Co. Ltd.’s portfolio, making the stock its 11th largest position. E Fund Management Co. Ltd. owned about 0.59% of Kanzhun worth $30,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after purchasing an additional 2,293,229 shares during the period. Barclays PLC boosted its position in shares of Kanzhun by 58.7% in the third quarter. Barclays PLC now owns 450,663 shares of the company’s stock valued at $7,824,000 after acquiring an additional 166,683 shares during the period. Monolith Management Ltd bought a new position in shares of Kanzhun in the third quarter valued at approximately $4,340,000. Union Bancaire Privee UBP SA bought a new position in shares of Kanzhun in the fourth quarter valued at approximately $333,000. Finally, WCM Investment Management LLC boosted its position in shares of Kanzhun by 109.3% in the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after acquiring an additional 1,649,411 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Citigroup dropped their target price on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, CLSA initiated coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Stock Up 6.4 %

Shares of NASDAQ BZ opened at $17.14 on Thursday. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74. The firm’s fifty day moving average is $14.83 and its 200 day moving average is $14.46. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 38.09 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. Equities research analysts anticipate that Kanzhun Limited will post 0.46 earnings per share for the current year.

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.