Ashoka WhiteOak Capital Pte Ltd Acquires 35,287 Shares of KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• Ashoka WhiteOak Capital Pte Ltd significantly increased its stake in KANZHUN LIMITED by 117.2% during the 2nd quarter, owning a total of 65,400 shares worth approximately $1.2 million.
• Major hedge funds, including UBS AM and Mirae Asset Global Investments, made substantial acquisitions, pushing institutional ownership in KANZHUN to over 60.67%.
• Analysts are optimistic about KANZHUN's prospects, with multiple firms raising their target prices and ratings, indicating a general sentiment of a "buy" recommendation across analysts.

Ashoka WhiteOak Capital Pte Ltd raised its holdings in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 117.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,400 shares of the company's stock after buying an additional 35,287 shares during the period. KANZHUN comprises approximately 0.6% of Ashoka WhiteOak Capital Pte Ltd's investment portfolio, making the stock its 13th biggest holding. Ashoka WhiteOak Capital Pte Ltd's holdings in KANZHUN were worth $1,207,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of KANZHUN by 1,474.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,552,922 shares of the company's stock worth $183,130,000 after acquiring an additional 8,946,253 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in KANZHUN by 2,547.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,313,534 shares of the company's stock worth $101,860,000 after purchasing an additional 5,112,824 shares during the period. Krane Funds Advisors LLC increased its holdings in shares of KANZHUN by 24.2% in the first quarter. Krane Funds Advisors LLC now owns 20,338,378 shares of the company's stock valued at $389,887,000 after purchasing an additional 3,961,488 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of KANZHUN in the first quarter valued at about $71,111,000. Finally, Goldman Sachs Group Inc. raised its position in shares of KANZHUN by 45.0% in the first quarter. Goldman Sachs Group Inc. now owns 8,629,115 shares of the company's stock valued at $165,420,000 after purchasing an additional 2,678,683 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on BZ shares. Jefferies Financial Group lifted their target price on shares of KANZHUN from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. The Goldman Sachs Group restated a "buy" rating on shares of KANZHUN in a report on Monday. Barclays upped their target price on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. UBS Group raised KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target for the company in a report on Thursday, August 21st. Finally, Zacks Research upgraded KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $21.17.

KANZHUN Trading Up 0.0%

NASDAQ BZ opened at $23.50 on Friday. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 35.08 and a beta of 0.44. The company has a 50 day moving average of $22.13 and a 200-day moving average of $19.04. KANZHUN LIMITED Sponsored ADR has a 1-year low of $12.16 and a 1-year high of $25.26.

KANZHUN Announces Dividend

The business also recently disclosed a full year 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be issued a $0.084 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a yield of 60.0%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.