Jennison Associates LLC Sells 137,811 Shares of Kanzhun Limited (NASDAQ:BZ)

Jennison Associates LLC lowered its holdings in Kanzhun Limited (NASDAQ:BZ) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,095,341 shares of the company’s stock after selling 137,811 shares during the period. Jennison Associates LLC’s holdings in Kanzhun were worth $18,194,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Kanzhun by 32.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,670 shares of the company’s stock valued at $56,000 after purchasing an additional 890 shares during the period. Schwab Charitable Fund bought a new stake in shares of Kanzhun during the 4th quarter worth approximately $182,000. Aigen Investment Management LP bought a new stake in shares of Kanzhun during the 3rd quarter worth approximately $182,000. DNB Asset Management AS bought a new position in Kanzhun in the 4th quarter valued at approximately $207,000. Finally, Deltec Asset Management LLC bought a new position in Kanzhun in the 3rd quarter valued at approximately $198,000. Institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Up 2.5 %

BZ opened at $19.60 on Friday. Kanzhun Limited has a twelve month low of $12.57 and a twelve month high of $21.32. The company has a fifty day moving average of $17.79 and a 200-day moving average of $16.16. The stock has a market cap of $7.36 billion, a PE ratio of 59.40 and a beta of 0.59.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $222.57 million during the quarter, compared to analysts’ expectations of $215.66 million. Sell-side analysts anticipate that Kanzhun Limited will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BZ shares. Macquarie raised shares of Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th. Barclays increased their price objective 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. TheStreet raised shares of Kanzhun from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Finally, New Street Research raised shares of Kanzhun from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $25.00 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.38.

Kanzhun 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.