Kanzhun (NASDAQ:BZ) Trading Down 4% – Should You Sell?

Kanzhun Limited (NASDAQ:BZ) dropped 4% during trading on Friday . The stock traded as low as $14.71 and last traded at $14.76. Approximately 269,863 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,795,829 shares. The stock had previously closed at $15.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Citigroup reduced their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. CLSA assumed coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, Barclays increased their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Kanzhun presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Price Performance

The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 32.21 and a beta of 0.49. The firm’s fifty day moving average is $13.85 and its 200 day moving average is $14.27.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Equities research analysts forecast that Kanzhun Limited will post 0.46 EPS for the current fiscal year.

Institutional Trading of Kanzhun

Several large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Kanzhun by 812.5% during the 3rd 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 acquiring an additional 6,339,911 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Kanzhun in the third quarter worth $64,220,000. National Bank of Canada FI bought a new stake in shares of Kanzhun during the 3rd quarter worth $45,482,000. Nomura Asset Management Co. Ltd. grew its stake in Kanzhun by 7,012.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock valued at $40,378,000 after buying an additional 2,293,229 shares during the last quarter. Finally, WCM Investment Management LLC increased its stake in shares of Kanzhun by 109.3% in the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after purchasing an additional 1,649,411 shares during the period. 60.67% of the stock is owned by institutional investors.

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.