Bank of America Corp DE Acquires 1,737,071 Shares of Kanzhun Limited (NASDAQ:BZ)

Bank of America Corp DE raised its position in Kanzhun Limited (NASDAQ:BZ) by 44.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,612,727 shares of the company’s stock after buying an additional 1,737,071 shares during the quarter. Bank of America Corp DE owned 1.47% of Kanzhun worth $77,456,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BZ. Quadrant Capital Group LLC grew its holdings in shares of Kanzhun by 403.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock worth $25,000 after purchasing an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after purchasing an additional 1,542 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Kanzhun during the 4th quarter worth $63,000. Townsquare Capital LLC acquired a new stake in shares of Kanzhun during the 4th quarter worth $157,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Kanzhun during the 4th quarter worth $160,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Trading Up 11.9%

Kanzhun stock opened at $17.81 on Tuesday. The company has a market capitalization of $6.93 billion, a PE ratio of 39.58 and a beta of 0.35. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The stock has a 50-day moving average price of $16.81 and a two-hundred day moving average price of $15.27.

Wall Street Analysts Forecast Growth

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

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.