UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Kanzhun Limited (NASDAQ:BZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 91.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 606,669 shares of the company's stock after selling 6,513,563 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Kanzhun worth $8,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BZ. Capital World Investors grew its stake in shares of Kanzhun by 636.3% during the 4th quarter. Capital World Investors now owns 13,828,732 shares of the company's stock worth $190,837,000 after acquiring an additional 11,950,467 shares during the period. Krane Funds Advisors LLC grew its stake in shares of Kanzhun by 49.6% during the 4th quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company's stock worth $226,001,000 after acquiring an additional 5,432,730 shares during the period. Norges Bank bought a new position in shares of Kanzhun during the 4th quarter worth $64,060,000. HCEP Management Ltd grew its stake in shares of Kanzhun by 200.0% during the 4th quarter. HCEP Management Ltd now owns 3,000,000 shares of the company's stock worth $41,400,000 after acquiring an additional 2,000,000 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Kanzhun by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company's stock worth $198,687,000 after acquiring an additional 1,885,658 shares during the period. Institutional investors own 60.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BZ shares. Sanford C. Bernstein reiterated a "market perform" rating and set a $18.00 price target on shares of Kanzhun in a research note on Wednesday, March 12th. Daiwa America upgraded Kanzhun from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Barclays raised their target price on Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kanzhun currently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Kanzhun Stock Performance

NASDAQ BZ traded up $0.62 during trading hours on Wednesday, hitting $18.38. The company had a trading volume of 438,278 shares, compared to its average volume of 4,448,993. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $21.99. The firm has a 50 day simple moving average of $16.30 and a 200 day simple moving average of $15.62. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 40.75 and a beta of 0.35.

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.