Sumitomo Mitsui Trust Group Inc. Has $10.43 Million Stock Holdings in Kanzhun Limited (NASDAQ:BZ)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 600,510 shares of the company’s stock after purchasing an additional 16,000 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of Kanzhun worth $10,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Capital Advisors LLC acquired a new stake in shares of Kanzhun during the second quarter worth $25,000. Summit Securities Group LLC acquired a new position in Kanzhun during the second quarter valued at $44,000. UMB Bank n.a. acquired a new position in Kanzhun during the third quarter valued at $42,000. Van ECK Associates Corp acquired a new position in Kanzhun during the third quarter valued at $61,000. Finally, Blue Trust Inc. raised its position in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on BZ shares. Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kanzhun currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Price Performance

Shares of BZ stock opened at $13.44 on Monday. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The stock’s 50-day moving average is $14.92 and its two-hundred day moving average is $16.69. The firm has a market cap of $5.12 billion, a P/E ratio of 31.26 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The company had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. As a group, research analysts expect that Kanzhun Limited will post 0.47 EPS for the current year.

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.