Tekne Capital Management LLC Reduces Holdings in Kanzhun Limited (NASDAQ:BZ)

Tekne Capital Management LLC lessened its stake in Kanzhun Limited (NASDAQ:BZ - Free Report) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,200,000 shares of the company's stock after selling 282,903 shares during the period. Kanzhun comprises about 16.1% of Tekne Capital Management LLC's portfolio, making the stock its 2nd biggest position. Tekne Capital Management LLC owned 0.84% of Kanzhun worth $44,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BZ. Krane Funds Advisors LLC lifted its stake in shares of Kanzhun by 49.6% in the 4th quarter. Krane Funds Advisors LLC now owns 16,376,890 shares of the company's stock valued at $226,001,000 after purchasing an additional 5,432,730 shares during the period. Schroder Investment Management Group lifted its stake in Kanzhun by 7.1% in the fourth quarter. Schroder Investment Management Group now owns 14,838,725 shares of the company's stock valued at $204,774,000 after buying an additional 986,213 shares during the period. Vanguard Group Inc. boosted its holdings 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 buying an additional 1,885,658 shares in the last quarter. WFM ASIA BVI Ltd grew its position in shares of Kanzhun by 30.7% during the 4th quarter. WFM ASIA BVI Ltd now owns 7,907,300 shares of the company's stock worth $109,121,000 after buying an additional 1,855,500 shares during the period. Finally, Brilliance Asset Management Ltd. increased its stake in shares of Kanzhun by 7.5% in the 4th quarter. Brilliance Asset Management Ltd. now owns 7,300,256 shares of the company's stock valued at $100,744,000 after acquiring an additional 510,745 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BZ. Barclays raised their price target on shares of Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Sanford C. Bernstein restated a "market perform" rating and issued a $18.00 target price on shares of Kanzhun in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.71.

Kanzhun Trading Down 0.2 %

Shares of NASDAQ:BZ traded down $0.03 during mid-day trading on Friday, hitting $13.90. 3,876,675 shares of the company traded hands, compared to its average volume of 4,690,145. The stock has a 50-day moving average price of $17.01 and a two-hundred day moving average price of $15.41. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a market cap of $5.36 billion, a P/E ratio of 30.89 and a beta of 0.32.

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.