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

Wellington Management Group LLP cut its position in shares of Kanzhun Limited (NASDAQ:BZ) by 47.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,567,904 shares of the company’s stock after selling 3,157,905 shares during the period. Wellington Management Group LLP’s holdings in Kanzhun were worth $49,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Kanzhun by 107.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after purchasing an additional 1,542 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kanzhun in the 4th quarter worth approximately $63,000. Virtu Financial LLC bought a new position in Kanzhun during the 4th quarter valued at approximately $162,000. Premier Fund Managers Ltd raised its stake in Kanzhun by 25.4% during the fourth quarter. Premier Fund Managers Ltd now owns 13,131 shares of the company’s stock valued at $180,000 after buying an additional 2,661 shares during the last quarter. Finally, Wolverine Trading LLC bought a new stake in Kanzhun in the third quarter worth $263,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $15.42 on Friday. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 34.27 and a beta of 0.32. The business has a 50-day simple moving average of $17.12 and a two-hundred day simple moving average of $15.43. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BZ. Sanford C. Bernstein restated a “market perform” rating and set a $18.00 price target on shares of Kanzhun in a report on Wednesday, March 12th. Barclays raised their price objective on shares of Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.71.

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.