Insider Selling: Engel Klaus A, Corteva Inc. [CTVA] Director divested 3,000 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corteva Inc. shares valued at $158,280 were sold by Engel Klaus A on Mar 15. At $52.76 per share, Engel Klaus A sold 3,000 shares. The insider’s holdings dropped to 28,742 shares worth approximately $1.78 million following the completion of this transaction.


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Also, Cassidy Meghan sold 87,022 shares, netting a total of over 4,484,244 in proceeds. Following the sale of shares at $51.53 each, the insider now holds 55,518 shares.

Before that, Magro Charles V. had added 50,000 shares to its account. In a trade valued at $2,556,763, the Chief Executive Officer bought Corteva Inc. shares for $51.14 each. Upon closing the transaction, the insider’s holdings increased to 50,000 shares, worth approximately $3.09 million.

As published in a research note from ROTH Capital on August 08, 2022, Corteva Inc. [CTVA] has been rated up from a Neutral to a Buy and the price target has been revised to $74 from $67. This represents a 16.39% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early August. As of July 14, 2022, Credit Suisse has initiated its “an Outperform” rating for CTVA. Earlier on June 01, 2022, Barclays initiated its rating. Their recommendation was “an Overweight” for CTVA stock.

Analyzing CTVA’s Price Performance

On Wednesday, Corteva Inc. [NYSE: CTVA] plunged -0.37% to $61.87. The stock’s lowest price that day was $61.21, but it reached a high of $61.90 in the same session. During the last five days, there has been a surge of approximately 2.96%. Over the course of the year, Corteva Inc. shares have jumped approximately 30.86%. Shares of the company reached a 52-week high of $64.03 on 05/26/22 and a 52-week low of $43.74 on 01/24/22. A 50-day SMA is recorded $55.84, while a 200-day SMA reached $53.13. Nevertheless, trading volume fell to 1.74 million shares from 3.84 million shares the previous day.

Support And Resistance Levels for Corteva Inc. (CTVA)

According to the 24-hour chart, there is a support level at 61.42, which, if violated, would cause prices to drop to 60.97. In the upper region, resistance lies at 62.11. The next price resistance is at 62.35. RSI (Relative Strength Index) is 72.63 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.89, which suggests the price will increase in the coming days. Percent R is at 5.89%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Corteva Inc. subject to short interest?

Stocks of Corteva Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.5 million shares to 5.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.92 million shares. A decline of -46.13% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.25 of the overall float, the days-to-cover ratio (short ratio) decline to 1.25.

Which companies own the most shares of Corteva Inc. (CTVA)?

According to The Vanguard Group, Inc. filings, the company currently owns 78,836,386 shares, which is about 10.89% of the total CTVA shares outstanding. The investor’s shares have appreciated by 951,174 from its previous 13-F filing of 77885212.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $2,122,388,464. BlackRock Fund Advisors acquire a 4.23% interest valued at $2.1 billion while Aristotle Capital Management LLC sold a -1,079,636 stake. A total of 1,124,693 shares of Corteva Inc. were sold by Fidelity Management & Research Co during the quarter, and -70,776 were sold by Geode Capital Management LLC. In its current portfolio, Northern Trust Investments, Inc. holds 12,357,562 shares valued at $711.18 million.

In terms of Corteva Inc. share price expectations, FactSet research, analysts set an average price target of $65.90 in the next 12 months, up nearly 6.28% from the previous closing price of $62.10. Analysts anticipate Corteva Inc. stock to reach $74.00 by 2022, with the lowest price target being $50.00. In spite of this, 25 analysts ranked Corteva Inc. stock as an Overweight at the end of 2022. On May 06, 2022, JP Morgan assigned a price target of “a Neutral” to the stock and downgraded coverage with a $58.

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