Wellington Management Group LLP Sells 5,224,967 Shares of Kanzhun Limited (NASDAQ:BZ)

Wellington Management Group LLP decreased its holdings in Kanzhun Limited (NASDAQ:BZ) by 43.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,725,809 shares of the company’s stock after selling 5,224,967 shares during the quarter. Wellington Management Group LLP owned approximately 1.77% of Kanzhun worth $116,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock valued at $123,607,000 after purchasing an additional 6,339,911 shares during the last quarter. RWC Asset Advisors US LLC boosted its position in Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after buying an additional 2,529,725 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Kanzhun by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock valued at $100,988,000 after buying an additional 507,337 shares during the period. State Street Corp raised its position in shares of Kanzhun by 2.8% during the third quarter. State Street Corp now owns 5,084,631 shares of the company’s stock worth $88,269,000 after acquiring an additional 138,804 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Kanzhun during the third quarter valued at $64,220,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

BZ opened at $15.34 on Tuesday. Kanzhun Limited has a twelve month low of $10.57 and a twelve month high of $22.74. The firm has a market cap of $5.82 billion, a PE ratio of 35.68 and a beta of 0.50. The firm’s fifty day moving average is $14.90 and its two-hundred day moving average is $15.79.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BZ. Sanford C. Bernstein cut Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $19.00 to $15.00 in a report on Monday. CLSA assumed coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price target for the company. Citigroup cut their price objective on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Barclays lifted their target price on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun 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.