Allspring Global Investments Holdings LLC Buys 1,419,579 Shares of Kanzhun Limited (NASDAQ:BZ)

Allspring Global Investments Holdings LLC boosted its position in shares of Kanzhun Limited (NASDAQ:BZ) by 86.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,068,555 shares of the company’s stock after buying an additional 1,419,579 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.81% of Kanzhun worth $41,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in shares of Kanzhun during the third quarter valued at approximately $61,000. China Universal Asset Management Co. Ltd. bought a new position in Kanzhun in the 4th quarter worth $63,000. Premier Fund Managers Ltd lifted its position in shares of Kanzhun by 38.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock worth $180,000 after purchasing an additional 2,884 shares during the period. DRW Securities LLC bought a new stake in shares of Kanzhun during the 3rd quarter valued at about $203,000. Finally, Hancock Whitney Corp purchased a new position in shares of Kanzhun during the third quarter valued at about $228,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analyst Ratings Changes

BZ has been the topic of several research reports. CLSA began coverage on Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective on the stock. Sanford C. Bernstein lowered Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Barclays boosted their target price on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Citigroup decreased their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Kanzhun presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Stock Performance

Shares of Kanzhun stock opened at $16.49 on Friday. The company has a 50-day simple moving average of $14.35 and a two-hundred day simple moving average of $14.26. The stock has a market capitalization of $6.28 billion, a PE ratio of 36.65 and a beta of 0.49. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74.

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