Musk Offloads Tesla Shares, Here's A Look At Price Target Cuts By The Most Accurate Analysts

Tesla Inc. TSLA CEO Elon Musk sold 19.5 million shares, estimated to be worth nearly $4 billion , in the electric vehicle maker between Nov. 4 and Nov. 8, according to filings made with the US Securities and Exchange Commission.

The company also recently said it is recalling over 40,000 Model S and Model X vehicles, belonging to model years 2017-2021. The electric vehicle maker notified the National Highway Traffic Safety Administration about the recall on Nov. 1 and the recall has been initiated by the company due to issues with the electronic power assist steering, or EPAS, system.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the EV maker in the recent period.

• Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on the stock on October 25, 2022, but lowered the price target from $350 to $330.
• Accuracy Rate: 57%
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• Mizuho analyst Vijay Rakesh maintained a Buy rating on Tesla on October 20, 2022, but slashed the price target from $370 to $330.
• Accuracy Rate: 65%
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• Deutsche Bank analyst Emmanuel Rosner reaffirmed a Buy rating on the EV maker on October 20, 2022, but cut the price target from $390 to $355.
• Accuracy Rate: 71%
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• Wedbush analyst Daniel Ives maintained an Outperform rating on October 20, 2022, but reduced the price target from $360 to $300.
• Accuracy Rate: 59%
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• RBC Capital analyst Joseph Spak reiterated an Outperform rating on October 20, 2022, but slashed the price target from $340 to $325.
• Accuracy Rate: 40%

Tesla shares gained 0.9% to $193.07 in pre-market trading, after dropping 2.9% in regular trading session on Tuesday.