Norges Bank Invests $123.98 Million in KANZHUN LIMITED Sponsored ADR $BZ

Norges Bank purchased a new position in shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,949,791 shares of the company’s stock, valued at approximately $123,984,000.

Several other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of KANZHUN by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 437,579 shares of the company’s stock worth $8,388,000 after purchasing an additional 13,763 shares during the last quarter. Nordea Investment Management AB increased its stake in KANZHUN by 6.6% in the 2nd quarter. Nordea Investment Management AB now owns 327,771 shares of the company’s stock worth $5,806,000 after buying an additional 20,329 shares during the period. Asset Management One Co. Ltd. lifted its holdings in KANZHUN by 18.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 54,058 shares of the company’s stock valued at $964,000 after buying an additional 8,473 shares in the last quarter. Citigroup Inc. lifted its holdings in KANZHUN by 2.9% during the 1st quarter. Citigroup Inc. now owns 4,084,520 shares of the company’s stock valued at $78,300,000 after buying an additional 116,280 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in KANZHUN in the 2nd quarter valued at about $527,000. Institutional investors own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group raised shares of KANZHUN from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, August 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of KANZHUN in a research note on Monday. Barclays lifted their target price on KANZHUN from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Zacks Research downgraded KANZHUN from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Wall Street Zen lowered KANZHUN from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

KANZHUN Stock Down 1.3%

Shares of NASDAQ:BZ opened at $22.02 on Wednesday. The firm has a 50 day moving average of $22.09 and a 200 day moving average of $20.83. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 28.97 and a beta of 0.42. KANZHUN LIMITED Sponsored ADR has a 52 week low of $12.85 and a 52 week high of $25.26.

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.