Assenagon Asset Management S.A. Sells 324,655 Shares of Kanzhun Limited (NASDAQ:BZ)

Assenagon Asset Management S.A. trimmed its position in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,453,336 shares of the company's stock after selling 324,655 shares during the period. Assenagon Asset Management S.A. owned about 0.90% of Kanzhun worth $66,200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Krane Funds Advisors LLC lifted its stake in shares of Kanzhun by 49.6% in the fourth quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company's stock valued at $226,001,000 after buying an additional 5,432,730 shares during the period. Schroder Investment Management Group lifted its stake in Kanzhun by 7.1% during the fourth quarter. Schroder Investment Management Group now owns 14,838,725 shares of the company's stock worth $204,774,000 after purchasing an additional 986,213 shares during the period. Vanguard Group Inc. lifted its stake in Kanzhun by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company's stock worth $198,687,000 after purchasing an additional 1,885,658 shares during the period. Capital World Investors raised its stake in shares of Kanzhun by 636.3% in the fourth quarter. Capital World Investors now owns 13,828,732 shares of the company's stock valued at $190,837,000 after acquiring an additional 11,950,467 shares during the last quarter. Finally, WFM ASIA BVI Ltd raised its stake in shares of Kanzhun by 30.7% in the fourth quarter. WFM ASIA BVI Ltd now owns 7,907,300 shares of the company's stock valued at $109,121,000 after acquiring an additional 1,855,500 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Kanzhun Stock Performance

NASDAQ BZ traded down $0.57 on Friday, hitting $17.65. The stock had a trading volume of 4,319,296 shares, compared to its average volume of 4,479,980. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $20.89. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 39.22 and a beta of 0.39. The firm has a 50-day moving average of $16.36 and a 200-day moving average of $15.86.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Daiwa America raised shares of Kanzhun from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. Barclays raised their price objective on Kanzhun from $16.00 to $22.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Finally, Sanford C. Bernstein restated a "market perform" rating and set a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

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.