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

Wellington Management Group LLP reduced its holdings in Kanzhun Limited (NASDAQ:BZ) by 47.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,567,904 shares of the company’s stock after selling 3,157,905 shares during the quarter. Wellington Management Group LLP owned 0.94% of Kanzhun worth $49,237,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Kanzhun during the 4th quarter worth $64,060,000. National Bank of Canada FI purchased a new stake in Kanzhun during the third quarter valued at about $45,482,000. Nomura Asset Management Co. Ltd. lifted its stake in Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after purchasing an additional 2,293,229 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kanzhun by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 14,397,602 shares of the company’s stock worth $198,687,000 after purchasing an additional 1,885,658 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. bought a new position in shares of Kanzhun during the 4th quarter valued at about $24,521,000. 60.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BZ shares. Barclays boosted their target price on 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 restated a “market perform” rating and issued a $18.00 price objective on shares of Kanzhun in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kanzhun presently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Kanzhun Stock Down 18.3 %

Shares of NASDAQ BZ opened at $15.42 on Friday. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 34.27 and a beta of 0.32. The firm’s fifty day moving average is $17.12 and its 200 day moving average is $15.43. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74.

Kanzhun Company Profile

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.