Tekne Capital Management LLC Boosts Position in Kanzhun Limited (NASDAQ:BZ)

Tekne Capital Management LLC grew its position in shares of Kanzhun Limited (NASDAQ:BZ) by 16.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,482,903 shares of the company’s stock after acquiring an additional 480,083 shares during the quarter. Kanzhun comprises about 24.5% of Tekne Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Tekne Capital Management LLC’s holdings in Kanzhun were worth $60,463,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BZ. Swedbank AB acquired a new position in Kanzhun during the 1st quarter worth $861,000. WCM Investment Management LLC raised its stake in shares of Kanzhun by 109.3% during the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after purchasing an additional 1,649,411 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in Kanzhun in the second quarter worth about $934,000. DekaBank Deutsche Girozentrale grew its position in Kanzhun by 128.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,408 shares of the company’s stock valued at $1,377,000 after buying an additional 41,342 shares in the last quarter. Finally, Monolith Management Ltd acquired a new position in Kanzhun during the 3rd quarter valued at about $4,340,000. Institutional investors own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. CLSA initiated coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Barclays cut their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Kanzhun Trading Down 2.2 %

Shares of NASDAQ BZ traded down $0.28 during midday trading on Tuesday, reaching $12.36. The company’s stock had a trading volume of 168,919 shares, compared to its average volume of 4,081,769. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 29.40 and a beta of 0.55. The company has a 50 day moving average price of $15.05 and a 200 day moving average price of $16.37.

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

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.