An Analysis of Corteva Inc. (CTVA)’s Potential Price Growth


Corteva Inc.’s recently made public that its insider Grimm Audrey unloaded Company’s shares for reported $0.63 million on Sep 15. In the deal valued at $62.79 per share,10,000 shares were sold. As a result of this transaction, Grimm Audrey now holds 7,511 shares worth roughly $ 0.47 million.

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Then, Engel Klaus A sold 3,000 shares, generating $158,280 in total proceeds. Upon selling the shares at $52.76, the Director now owns 28,742 shares.

Before that, Cassidy Meghan sold 87,022 shares. Corteva Inc. shares valued at $4,484,244 were divested by the insider at a price of $51.53 per share. As a result of the transaction, Cassidy Meghan now holds 55,518 shares, worth roughly $3.47 million.

Wells Fargo initiated its Corteva Inc. [CTVA] rating to an Overweight in a research note published on Tuesday, January 19, 2023; the price target was $78. PT values the company’s stock at a premium of 19.86 to its Tuesday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid January from “an Underperform” to “a Neutral”. UBS also remained covering CTVA and has decreased its forecast on November 16, 2022 with a “Neutral” recommendation from previously “Buy” rating. Loop Capital revised its rating on November 15, 2022. It rated CTVA as “a Hold” which previously was an “a Buy”.

Price Performance Review of CTVA

On Tuesday, Corteva Inc. [NYSE:CTVA] saw its stock jump 0.99% to $62.51. On the same session, the stock had its day’s lowest price of $61.20, but rose to a high of $62.55. Over the last five days, the stock has lost -0.30%. Corteva Inc. shares have risen nearly 6.35% since the year began. Nevertheless, the stocks have risen 37.57% over the past one year. While a 52-week high of $68.43 was reached on 01/17/23, a 52-week low of $43.74 was recorded on 01/03/23. SMA at 50 days reached $62.69, while 200 days put it at $60.03. A total of 2.17 million shares were traded, compared to the trading of 2.57 million shares in the previous session.

Levels Of Support And Resistance For CTVA Stock

The 24-hour chart illustrates a support level at 61.62, which if violated will result in even more drops to 60.74. On the upside, there is a resistance level at 62.97. A further resistance level may holdings at 63.44. The Relative Strength Index (RSI) on the 14-day chart is 55.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.45%. Stochastics %K at 74.86% indicates the stock is a holding.

How much short interest is there in Corteva Inc.?

A steep rise in short interest was recorded in Corteva Inc. stocks on Oct 13, 2022, dropping by -1.48 million shares to a total of 6.1 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 7.58 million shares. There was a decline of -24.26%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.79.

Corteva Inc. [CTVA] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 79,148,555 shares, or roughly 11.08% of the outstanding CTVA shares. In other words, the investor’s shares have risen by 312,169 from its previous 13-F filing of 78836386.0. Additionally, BlackRock Fund Advisors increased 1.31% of its stake after which the total value it holdings stand at $2,168,545,676, while SSgA Funds Management, Inc. reduced -6.31% of its stake to hold $2.01 billion in the firm. Over the last quarter, Aristotle Capital Management LLC sold -714,938 shares of Corteva Inc., while Capital Research & Management Co sold -2,180,944 shares. At present, Fidelity Management & Research Co is holding 15,516,530 shares valued at $912.06 million. Geode Capital Management LLC owned 14,486,335 shares of the company at the time of its most recent 13F filing, worth $851.51 million.

According to FactSet, Corteva Inc.’s share price will average $73.02 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.12 percent from its previous closing price of $61.90. Analysts expect Corteva Inc. stock to reach the higher price of $87.00, while the lowest price estimate is $62.00. However, 27 analysts have rated CTVA stock as an Overweight in their predictions for 2023.


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