IvyRock Asset Management HK Ltd Sells 5,400 Shares of Kanzhun Limited (NASDAQ:BZ)

IvyRock Asset Management HK Ltd cut its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 582,012 shares of the company’s stock after selling 5,400 shares during the period. Kanzhun comprises approximately 3.5% of IvyRock Asset Management HK Ltd’s investment portfolio, making the stock its 8th biggest position. IvyRock Asset Management HK Ltd’s holdings in Kanzhun were worth $8,032,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after buying an additional 1,542 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Kanzhun during the 4th quarter worth approximately $63,000. Virtu Financial LLC bought a new stake in shares of Kanzhun in the 4th quarter valued at $162,000. DRW Securities LLC acquired a new stake in shares of Kanzhun during the third quarter worth $203,000. Finally, Hancock Whitney Corp bought a new position in Kanzhun during the third quarter worth $228,000. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Trading Up 0.2 %

BZ stock opened at $20.01 on Tuesday. The stock has a market cap of $7.62 billion, a P/E ratio of 44.47 and a beta of 0.46. The stock’s fifty day simple moving average is $16.30 and its two-hundred day simple moving average is $15.02. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74.

Analysts Set New Price Targets

BZ has been the subject of several recent research reports. Sanford C. Bernstein restated a “market perform” rating and set a $18.00 price objective on shares of Kanzhun in a report on Wednesday, March 12th. Citigroup decreased their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

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.