E Fund Management Hong Kong Co. Ltd. Sells 47,979 Shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

E Fund Management Hong Kong Co. Ltd. lowered its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 30.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,133 shares of the company's stock after selling 47,979 shares during the period. KANZHUN comprises 1.8% of E Fund Management Hong Kong Co. Ltd.'s investment portfolio, making the stock its 11th biggest position. E Fund Management Hong Kong Co. Ltd.'s holdings in KANZHUN were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BZ. Asset Management One Co. Ltd. lifted its position in shares of KANZHUN by 7.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 45,585 shares of the company's stock worth $874,000 after purchasing an additional 3,322 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of KANZHUN by 42.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,872 shares of the company's stock valued at $400,000 after buying an additional 6,192 shares during the last quarter. GAM Holding AG acquired a new position in KANZHUN during the first quarter worth approximately $2,396,000. UG Investment Advisers Ltd. acquired a new position in KANZHUN in the first quarter valued at $9,001,000. Finally, Matthews International Capital Management LLC lifted its position in KANZHUN by 26.7% during the 1st quarter. Matthews International Capital Management LLC now owns 1,074,442 shares of the company's stock worth $20,597,000 after acquiring an additional 226,152 shares during the period. Hedge funds and other institutional investors own 60.67% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on BZ. Barclays upped their target price 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 reissued a "market perform" rating and set a $18.00 price objective on shares of KANZHUN in a research note on Wednesday, March 12th. Finally, Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, KANZHUN has a consensus rating of "Moderate Buy" and an average price target of $18.50.

KANZHUN Stock Up 2.8%

BZ traded up $0.50 during trading hours on Friday, hitting $18.12. 2,394,927 shares of the company's stock were exchanged, compared to its average volume of 4,468,166. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 31.24 and a beta of 0.39. KANZHUN LIMITED Sponsored ADR has a 1-year low of $10.57 and a 1-year high of $20.81. The stock's 50-day moving average is $17.12 and its two-hundred day moving average is $16.18.

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.