Ameriprise Financial Inc. Trims Stock Position in Kanzhun Limited (NASDAQ:BZ)

Ameriprise Financial Inc. cut its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,082,121 shares of the company’s stock after selling 102,610 shares during the period. Ameriprise Financial Inc. owned approximately 0.28% of Kanzhun worth $14,933,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Quadrant Capital Group LLC grew its holdings in shares of Kanzhun by 403.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock worth $25,000 after acquiring an additional 1,427 shares during the period. PNC Financial Services Group Inc. grew its holdings in Kanzhun by 107.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock valued at $41,000 after purchasing an additional 1,542 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Kanzhun in the fourth quarter valued at $63,000. Townsquare Capital LLC acquired a new position in shares of Kanzhun during the 4th quarter worth $157,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Kanzhun in the 4th quarter worth about $160,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Sanford C. Bernstein restated a “market perform” rating and set a $18.00 target price on shares of Kanzhun in a report on Wednesday, March 12th. Barclays raised their price objective on shares of Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.71.

Kanzhun Trading Up 0.8%

Shares of BZ stock opened at $18.25 on Friday. The firm has a 50-day moving average price of $16.84 and a 200 day moving average price of $15.35. Kanzhun Limited has a twelve month low of $10.57 and a twelve month high of $22.74. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 40.56 and a beta of 0.35.

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.