Kanzhun Limited (NASDAQ:BZ) Stock Position Lessened by Krane Funds Advisors LLC

Krane Funds Advisors LLC lowered its stake in Kanzhun Limited (NASDAQ:BZ) by 5.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,944,160 shares of the company’s stock after selling 616,132 shares during the period. Kanzhun makes up approximately 6.8% of Krane Funds Advisors LLC’s portfolio, making the stock its 8th largest position. Krane Funds Advisors LLC’s holdings in Kanzhun were worth $189,991,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BZ. Atlas Capital Advisors LLC purchased a new position in Kanzhun during the second quarter worth about $25,000. UMB Bank n.a. purchased a new position in Kanzhun during the third quarter worth approximately $42,000. Summit Securities Group LLC acquired a new position in shares of Kanzhun in the 2nd quarter valued at $44,000. Blue Trust Inc. grew its stake in shares of Kanzhun by 21.4% during the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Kanzhun during the 2nd quarter worth $204,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $14.80 on Tuesday. The company has a market cap of $5.63 billion, a P/E ratio of 38.38 and a beta of 0.52. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74. The business’s 50-day simple moving average is $14.44 and its 200 day simple moving average is $17.26.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $263.75 million for 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%. Analysts predict that Kanzhun Limited will post 0.47 earnings per share for the current year.

Analyst Ratings Changes

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

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.