State Street Corp Purchases 138,804 Shares of Kanzhun Limited (NASDAQ:BZ)

State Street Corp increased its position in Kanzhun Limited (NASDAQ:BZ) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,084,631 shares of the company’s stock after acquiring an additional 138,804 shares during the quarter. State Street Corp’s holdings in Kanzhun were worth $88,269,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BZ. Blue Trust Inc. raised its holdings in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after acquiring an additional 1,347 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Kanzhun by 12.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 584,510 shares of the company’s stock worth $10,995,000 after purchasing an additional 63,843 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Kanzhun by 265.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock worth $24,957,000 after purchasing an additional 964,110 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Kanzhun during the 2nd quarter worth about $772,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Kanzhun during the 2nd quarter valued at about $44,000. Institutional investors own 60.67% of the company’s stock.

Kanzhun Trading Down 5.3 %

Shares of BZ stock opened at $13.81 on Tuesday. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The firm’s 50 day moving average is $14.58 and its 200-day moving average is $15.61. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 30.69 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.48%. On average, equities research analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BZ. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $19.00 to $15.00 in a research report on Monday, December 9th. CLSA assumed coverage on shares of Kanzhun in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Barclays boosted their price target 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. Finally, Citigroup reduced their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Company 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.