E Fund Management Co. Ltd. Has $40.24 Million Stake in Kanzhun Limited (NASDAQ:BZ)

E Fund Management Co. Ltd. grew its position in Kanzhun Limited (NASDAQ:BZ - Free Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,422,718 shares of the company's stock after purchasing an additional 55,077 shares during the period. Kanzhun makes up 2.5% of E Fund Management Co. Ltd.'s holdings, making the stock its 6th largest position. E Fund Management Co. Ltd. owned approximately 0.65% of Kanzhun worth $40,241,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BZ. Nordea Investment Management AB acquired a new stake in Kanzhun during the 4th quarter worth about $4,311,000. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 216,558 shares during the period. Bamco Inc. NY grew its stake in shares of Kanzhun by 23.5% during the 3rd quarter. Bamco Inc. NY now owns 3,050,770 shares of the company's stock worth $46,280,000 after purchasing an additional 581,094 shares during the period. RWC Asset Management LLP lifted its stake in shares of Kanzhun by 68.5% in the 4th quarter. RWC Asset Management LLP now owns 555,316 shares of the company's stock valued at $9,224,000 after purchasing an additional 225,800 shares during the period. Finally, Swiss National Bank boosted its holdings in Kanzhun by 25.8% during the third quarter. Swiss National Bank now owns 515,527 shares of the company's stock worth $7,821,000 after buying an additional 105,600 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kanzhun Stock Performance

Shares of BZ traded up $0.32 during midday trading on Thursday, hitting $20.37. 5,614,508 shares of the stock were exchanged, compared to its average volume of 3,527,128. Kanzhun Limited has a 52-week low of $12.57 and a 52-week high of $21.32. The stock has a fifty day simple moving average of $18.79 and a 200 day simple moving average of $16.47. The firm has a market cap of $7.65 billion, a P/E ratio of 61.73 and a beta of 0.50.

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

Kanzhun Company 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.