TD Asset Management Inc Trims Stock Holdings in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ)

Key Points

• TD Asset Management Inc reduced its holdings in KANZHUN LIMITED by 7.3%, selling 35,974 shares, and now owns 458,048 shares valued at $8.78 million.
• Institutional investors control approximately 60.67% of KANZHUN's stock, indicating significant institutional interest in the company.
• KANZHUN's stock has seen an analyst rating change from "hold" to "strong buy", with a consensus price target of $18.50.

TD Asset Management Inc cut its holdings in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 458,048 shares of the company's stock after selling 35,974 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of KANZHUN worth $8,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital World Investors increased its holdings in 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 purchasing an additional 11,950,467 shares during the period. Krane Funds Advisors LLC increased 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. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 acquiring an additional 5,112,824 shares during the last quarter. Norges Bank acquired a new position in shares of KANZHUN in the fourth quarter worth approximately $64,060,000. Finally, Baillie Gifford & Co. bought a new stake in KANZHUN in the first quarter valued at approximately $71,111,000. Institutional investors own 60.67% of the company's stock.

Analyst Ratings Changes

Separately, Daiwa America upgraded shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a report on Monday, June 2nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, KANZHUN presently has an average rating of "Buy" and an average price target of $18.50.

KANZHUN Stock Performance

BZ stock traded up $0.68 during mid-day trading on Monday, hitting $19.34. The company had a trading volume of 1,028,429 shares, compared to its average volume of 4,056,691. The firm has a market cap of $7.93 billion, a PE ratio of 33.34 and a beta of 0.41. KANZHUN LIMITED Sponsored ADR has a 12 month low of $10.57 and a 12 month high of $20.81. The stock's fifty day moving average price is $18.36 and its two-hundred day moving average price is $17.09.

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.