Seven Eight Capital LP Invests $2.84 Million in Kanzhun Limited (NASDAQ:BZ)

Seven Eight Capital LP purchased a new position in Kanzhun Limited (NASDAQ:BZ) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 151,027 shares of the company’s stock, valued at approximately $2,841,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Kanzhun in the 4th quarter valued at approximately $98,023,000. Goldman Sachs Group Inc. increased its position in shares of Kanzhun by 21.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock valued at $82,688,000 after purchasing an additional 877,342 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Kanzhun by 31.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock valued at $2,634,000 after purchasing an additional 35,700 shares in the last quarter. StepStone Group LP purchased a new stake in shares of Kanzhun during the 4th quarter worth $1,432,000. Finally, Sei Investments Co. grew its stake in shares of Kanzhun by 25.3% during the first quarter. Sei Investments Co. now owns 700,049 shares of the company’s stock worth $12,272,000 after purchasing an additional 141,275 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Price Performance

NASDAQ:BZ opened at $12.44 on Wednesday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 31.90 and a beta of 0.47. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The firm’s fifty day moving average price is $14.06 and its 200 day moving average price is $17.66.

Wall Street Analyst Weigh In

BZ has been the subject of several recent analyst reports. UBS Group boosted their target price on Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. HSBC initiated coverage on shares of Kanzhun in a research note on Friday, May 24th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Kanzhun from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Kanzhun currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.