Kanzhun Limited (NASDAQ:BZ) is Krane Funds Advisors LLC’s 8th Largest Position

Krane Funds Advisors LLC cut its stake in Kanzhun Limited (NASDAQ:BZ) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,944,160 shares of the company’s stock after selling 616,132 shares during the quarter. Kanzhun comprises approximately 6.8% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Krane Funds Advisors LLC owned about 2.88% of Kanzhun worth $189,991,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. RWC Asset Advisors US LLC grew its position in Kanzhun by 79.8% in the second quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after acquiring an additional 2,529,725 shares during the period. GGV Capital LLC grew its holdings in shares of Kanzhun by 350.8% during the 1st quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock worth $41,489,000 after purchasing an additional 1,841,764 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Kanzhun by 3,918.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock valued at $28,626,000 after buying an additional 1,607,941 shares during the period. AQR Capital Management LLC acquired a new position in Kanzhun in the second quarter valued at about $28,705,000. Finally, Thornburg Investment Management Inc. purchased a new position in Kanzhun during the first quarter worth about $25,967,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Daiwa America raised Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays decreased their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Kanzhun presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun Price Performance

Shares of NASDAQ BZ opened at $14.80 on Tuesday. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The business has a 50-day moving average of $14.44 and a two-hundred day moving average of $17.26. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 38.38 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $263.75 million during the quarter, compared to analysts’ expectations of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. As a group, equities research analysts expect that Kanzhun Limited will post 0.47 earnings per share for the current year.

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.