AlpInvest Partners B.V. Acquires 349,910 Shares of Kanzhun Limited (NASDAQ:BZ)

AlpInvest Partners B.V. lifted its stake in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 85.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 760,324 shares of the company's stock after buying an additional 349,910 shares during the period. Kanzhun makes up approximately 2.9% of AlpInvest Partners B.V.'s investment portfolio, making the stock its 12th biggest holding. AlpInvest Partners B.V. owned 0.20% of Kanzhun worth $12,629,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BZ. Norges Bank purchased a new stake in Kanzhun during the 4th quarter worth about $76,089,000. BlackRock Inc. raised its holdings in 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 acquiring an additional 3,263,310 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Kanzhun by 14.9% in the first quarter. JPMorgan Chase & Co. now owns 13,097,337 shares of the company's stock worth $249,242,000 after acquiring an additional 1,702,922 shares during the last quarter. State Street Corp grew its holdings in Kanzhun by 114.8% during the 3rd quarter. State Street Corp now owns 2,930,741 shares of the company's stock worth $49,471,000 after acquiring an additional 1,566,551 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Kanzhun by 40.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,144,794 shares of the company's stock valued at $135,205,000 after purchasing an additional 1,487,391 shares during the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Trading Down 2.6 %

Shares of NASDAQ BZ traded down $0.50 during mid-day trading on Friday, reaching $18.74. 2,993,953 shares of the company's stock were exchanged, compared to its average volume of 3,719,426. Kanzhun Limited has a twelve month low of $12.57 and a twelve month high of $21.32. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 56.79 and a beta of 0.59. The business has a fifty day simple moving average of $17.09 and a 200 day simple moving average of $15.98.

Kanzhun (NASDAQ:BZ - Get Free Report) last released its earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. The business had revenue of $222.57 million during the quarter, compared to analysts' expectations of $215.66 million. Equities research analysts predict that Kanzhun Limited will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BZ. New Street Research raised Kanzhun from a "neutral" rating to a "buy" rating and raised their target price for the stock from $17.00 to $25.00 in a research report on Wednesday, March 13th. Macquarie upgraded Kanzhun from a "neutral" rating to an "outperform" rating in a report on Tuesday, March 12th. TheStreet raised shares of Kanzhun from a "d+" rating to a "c-" rating in a research report on Wednesday, March 13th. Finally, Barclays raised their target price on shares of Kanzhun from $22.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Kanzhun has a consensus rating of "Moderate Buy" and a consensus price target of $20.38.

About Kanzhun

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.