Kanzhun Limited (NASDAQ:BZ) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. reduced its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 66.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,500 shares of the company’s stock after selling 206,724 shares during the quarter. APG Asset Management N.V.’s holdings in Kanzhun were worth $1,817,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new stake in shares of Kanzhun during the second quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings in shares of Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after purchasing an additional 1,347 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after purchasing an additional 1,977 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Kanzhun in the second quarter worth about $44,000. Finally, DNB Asset Management AS grew its position in Kanzhun by 21.7% in the 2nd quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock valued at $330,000 after buying an additional 3,123 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Kanzhun Price Performance

BZ stock opened at $17.36 on Tuesday. The firm has a market cap of $6.60 billion, a PE ratio of 44.51 and a beta of 0.47. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The firm has a 50 day simple moving average of $13.51 and a 200 day simple moving average of $17.46.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. As a group, sell-side 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.