Nordea Investment Management AB Acquires New Holdings in Kanzhun Limited (NASDAQ:BZ)

Nordea Investment Management AB acquired a new stake in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 260,002 shares of the company's stock, valued at approximately $4,311,000. Nordea Investment Management AB owned approximately 0.07% of Kanzhun as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Kanzhun by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,502,710 shares of the company's stock valued at $352,108,000 after purchasing an additional 973,448 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Kanzhun by 1.0% in the second quarter. JPMorgan Chase & Co. now owns 13,222,148 shares of the company's stock valued at $198,993,000 after buying an additional 124,811 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kanzhun by 1.7% in the third quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company's stock valued at $191,376,000 after buying an additional 216,558 shares during the last quarter. Brilliance Asset Management Ltd. raised its position in shares of Kanzhun by 4.8% in the second quarter. Brilliance Asset Management Ltd. now owns 9,107,052 shares of the company's stock valued at $137,061,000 after buying an additional 413,673 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Kanzhun by 57.6% in the third quarter. BlackRock Inc. now owns 8,927,652 shares of the company's stock valued at $150,698,000 after buying an additional 3,263,310 shares during the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on BZ. Macquarie upgraded shares of Kanzhun from a "neutral" rating to an "outperform" rating in a research report on Tuesday, March 12th. JPMorgan Chase & Co. initiated coverage on shares of Kanzhun in a research report on Wednesday, December 13th. They issued an "overweight" rating and a $20.00 target price for the company. TheStreet upgraded shares of Kanzhun from a "d+" rating to a "c-" rating in a research report on Wednesday, March 13th. New Street Research upgraded shares of Kanzhun from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $17.00 to $25.00 in a research report on Wednesday, March 13th. Finally, Barclays raised their price objective on shares of Kanzhun from $22.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.38.

Kanzhun Stock Down 1.1 %

Shares of BZ traded down $0.21 during trading on Friday, reaching $18.57. 2,305,224 shares of the company traded hands, compared to its average volume of 4,069,040. Kanzhun Limited has a twelve month low of $12.57 and a twelve month high of $21.32. The stock has a market cap of $6.97 billion, a PE ratio of 56.27 and a beta of 0.56. The stock has a 50-day simple moving average of $15.65 and a 200-day simple moving average of $15.58.

Kanzhun Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.