Kanzhun CEO Sells 359,600 Shares in Latest Transaction
Kanzhun CEO Peng Zhao liquidated a significant portion of his holdings, reducing his direct stake by 11.3% in a move that follows recent strong quarterly performance.
Peng Jonathan Zhao, Chief Executive Officer of Kanzhun Limited, sold 359,600 shares of the company's stock on September 11. The transaction was executed at an average price of $8.28 per share, resulting in a total sale value of approximately $2.98 million. This sale reduced Zhao's direct ownership stake by 11.3%, leaving him with 2,824,080 shares valued at roughly $23.38 million at the time of the trade.
The September 11 sale was part of a broader reduction in the CEO's holdings, as he also disposed of 384,000 shares on September 10 at an average price of $8.18. The combined sales total nearly $6.1 million. According to GN stocks/nasdaq reporting, these transactions were disclosed in filings submitted to the Securities and Exchange Commission, highlighting a significant shift in the principal executive's direct equity exposure.
Recent Quarterly Financial Performance
The share sales occur against a backdrop of solid financial results for the company. Kanzhun reported earnings per share of $0.33 for the quarter ended in mid-August. The business generated revenue of $353.05 million during this period, achieving a net margin of 53.16%. Additionally, the company recorded a return on equity of 15.03%, indicating efficient capital deployment relative to shareholder investments.
Dividend Declaration and Payout
Kanzhun has announced an annual dividend of $0.51 per share, scheduled for payment on October 14. The ex-dividend date is set for September 28, with the record date on the same day. The company's dividend payout ratio stands at 10.56%, a metric that reflects the proportion of earnings distributed to shareholders versus retained for operations.
Institutional Investor Position Changes
Institutional interest in Kanzhun has shifted notably during the second quarter. The California State Teachers Retirement System significantly increased its stake by 1,186.8%, acquiring an additional 2,707,067 shares to bring its total holding to approximately 2.94 million shares. Raiffeisen Bank International AG also expanded its position by 286.4%, adding 25,200 shares. Conversely, some institutions maintained or slightly adjusted their positions, with Tidal Investments LLC increasing its holdings by 2.8%. Overall, institutional investors and hedge funds currently own 60.67% of the company's outstanding stock.
