Wellington Management Group LLP Sells 3,157,905 Shares of Kanzhun Limited (NASDAQ:BZ)

Wellington Management Group LLP lessened its stake in Kanzhun Limited (NASDAQ:BZ - Free Report) by 47.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,567,904 shares of the company's stock after selling 3,157,905 shares during the quarter. Wellington Management Group LLP owned about 0.94% of Kanzhun worth $49,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in Kanzhun by 58.7% during the 3rd quarter. Barclays PLC now owns 450,663 shares of the company's stock worth $7,824,000 after acquiring an additional 166,683 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Kanzhun in the fourth quarter worth $63,000. Jennison Associates LLC lifted its position in shares of Kanzhun by 79.7% in the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company's stock worth $45,952,000 after purchasing an additional 1,476,693 shares in the last quarter. abrdn plc lifted its position in shares of Kanzhun by 7.0% in the fourth quarter. abrdn plc now owns 204,520 shares of the company's stock worth $2,832,000 after purchasing an additional 13,452 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kanzhun by 112.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company's stock worth $2,769,000 after purchasing an additional 106,226 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $18.00 price objective on shares of Kanzhun in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.50.

Kanzhun Trading Up 0.6%

Kanzhun stock traded up $0.11 during trading hours on Tuesday, reaching $17.76. 574,504 shares of the stock were exchanged, compared to its average volume of 4,453,875. The company has a market cap of $6.91 billion, a P/E ratio of 39.47 and a beta of 0.35. Kanzhun Limited has a twelve month low of $10.57 and a twelve month high of $21.99. The stock has a 50 day moving average of $16.35 and a two-hundred day moving average of $15.60.

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.