Dragoneer Investment Group LLC Sells 6,980,780 Shares of Kanzhun Limited (NASDAQ:BZ)

Dragoneer Investment Group LLC lowered its position in Kanzhun Limited (NASDAQ:BZ - Free Report) by 63.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,038,315 shares of the company's stock after selling 6,980,780 shares during the period. Kanzhun comprises 1.0% of Dragoneer Investment Group LLC's holdings, making the stock its 19th largest position. Dragoneer Investment Group LLC owned 1.06% of Kanzhun worth $55,729,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Capital World Investors increased its holdings in Kanzhun by 636.3% during the 4th quarter. Capital World Investors now owns 13,828,732 shares of the company's stock worth $190,837,000 after purchasing an additional 11,950,467 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in shares of Kanzhun by 49.6% during the fourth quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company's stock worth $226,001,000 after buying an additional 5,432,730 shares in the last quarter. Norges Bank acquired a new stake in Kanzhun in the 4th quarter valued at approximately $64,060,000. HCEP Management Ltd lifted its stake in Kanzhun by 200.0% in the 4th quarter. HCEP Management Ltd now owns 3,000,000 shares of the company's stock valued at $41,400,000 after acquiring an additional 2,000,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Kanzhun by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company's stock worth $198,687,000 after acquiring an additional 1,885,658 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

Kanzhun Price Performance

NASDAQ BZ traded up $1.66 during trading on Monday, reaching $17.57. 2,636,819 shares of the company's stock were exchanged, compared to its average volume of 4,599,040. The business has a 50 day moving average price of $16.80 and a 200-day moving average price of $15.25. The stock has a market capitalization of $6.84 billion, a P/E ratio of 39.15 and a beta of 0.35. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Kanzhun from $16.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $18.00 target price on shares of Kanzhun in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Kanzhun currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.71.

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.