California State Teachers Retirement System Grows Position in Kanzhun Limited (NASDAQ:BZ)

California State Teachers Retirement System grew its position in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 39.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,518 shares of the company's stock after purchasing an additional 41,941 shares during the period. California State Teachers Retirement System's holdings in Kanzhun were worth $2,036,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in Kanzhun by 403.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock worth $25,000 after purchasing an additional 1,427 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of 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 acquiring an additional 1,542 shares during the period. Townsquare Capital LLC purchased a new position in shares of Kanzhun in the fourth quarter valued at about $157,000. Tudor Investment Corp ET AL purchased a new position in shares of Kanzhun in the fourth quarter valued at about $160,000. Finally, Virtu Financial LLC purchased a new position in shares of Kanzhun in the fourth quarter valued at about $162,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Kanzhun from $16.00 to $22.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Daiwa America upgraded shares of Kanzhun from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $18.00 price target on shares of Kanzhun in a research report on Wednesday, March 12th. Two 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.50.

Kanzhun Stock Up 0.7%

BZ traded up $0.13 during trading on Wednesday, hitting $18.64. The company's stock had a trading volume of 2,864,113 shares, compared to its average volume of 4,478,584. Kanzhun Limited has a one year low of $10.57 and a one year high of $20.89. The firm has a market cap of $7.26 billion, a PE ratio of 41.42 and a beta of 0.39. The business's 50 day simple moving average is $16.30 and its 200-day simple moving average is $15.82.

About Kanzhun

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.