Tesla Inc TSLA CEO Elon Musk sold nearly $3.6 billion worth of shares in the electric vehicle maker on Wednesday,
The billionaire sold 22 million shares of Tesla, according to the filing. The latest sale means that Musk has now sold almost $40 billion worth of the automaker’s stock over the past year.
Tesla is looking forward to drilling for new water sources to supply an expansion of its electric vehicle plant near Berlin, reported Reuters citing local authorities and the water association. This is the latest move by the EV-maker to jump-start German bureaucracy, the report said.
Tesla shares dropped 2.8% to $152.35 in pre-market trading.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the EV maker in the recent period.
- Goldman Sachs analyst Mark Delaney maintained a Buy rating on December 14, 2022, but slashed the price target from $305 to $235. Delaney sees around 50% upside in the company’s stock and has an accuracy rate of 73%.
- Citigroup’s analyst Itay Michaeli upgraded the stock from sell to Neutral rating on November 23, 2022, and raised the price target from $141.33 to $176. This analyst sees around 12% upside in the company’s stock and has an accuracy rate of 53%.
- Morgan Stanley’s analyst Adam Jonas maintained an Overweight rating on October 25, 2022, but cut the price target from $350 to $330. This analyst sees over 110% upside in the company’s stock and has an accuracy rate of 57%.
- Mizuho’s analyst Vijay Rakesh maintained a Buy rating on the stock on October 20, 2022, and raised the price target from $370 to $330. This analyst sees more than 110% upside in the company’s stock and has an accuracy rate of 65%.
- Deutsche Bank’s analyst Emmanuel Rosner reiterated a Buy rating on the stock on October 20, 2022, but lowered the price target from $390 to $355. This analyst sees around 126% upside in the company’s stock and has an accuracy rate of 71%.
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