Investing in Corteva Inc. (CTVA) Is Getting More Attractive


Corteva Inc.’s filing revealed that its Chief Executive Officer Magro Charles V. acquired Company’s shares for reported $2.43 million on Feb 06. In the deal valued at $60.64 per share,40,000 shares were bought. As a result of this transaction, Magro Charles V. now holds 126,095 shares worth roughly $ 7.78 million.

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Then, Grimm Audrey sold 10,000 shares, generating $627,932 in total proceeds. Upon selling the shares at $62.79, the insider now owns 7,511 shares.

Before that, Engel Klaus A sold 3,000 shares. Corteva Inc. shares valued at $158,280 were divested by the Director at a price of $52.76 per share. As a result of the transaction, Engel Klaus A now holds 28,742 shares, worth roughly $1.77 million.

Wells Fargo initiated its Corteva Inc. [CTVA] rating to an Overweight in a research note published on Friday, January 19, 2023; the price target was $78. PT values the company’s stock at a premium of 20.92 to its Friday 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 Friday, Corteva Inc. [NYSE:CTVA] saw its stock fall -0.52% to $61.68. On the same session, the stock had its day’s lowest price of $60.46, but rose to a high of $61.83. Over the last five days, the stock has lost -1.71%. Corteva Inc. shares have risen nearly 4.93% since the year began. Nevertheless, the stocks have risen 22.33% over the past one year. While a 52-week high of $68.43 was reached on 02/01/23, a 52-week low of $49.01 was recorded on 01/03/23. SMA at 50 days reached $61.40, while 200 days put it at $60.44. A total of 2.91 million shares were traded, compared to the trading of 4.06 million shares in the previous session.

Levels Of Support And Resistance For CTVA Stock

The 24-hour chart illustrates a support level at 60.82, which if violated will result in even more drops to 59.95. On the upside, there is a resistance level at 62.19. A further resistance level may holdings at 62.69. The Relative Strength Index (RSI) on the 14-day chart is 48.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.11%. Stochastics %K at 42.47% 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 Jan 30, 2023, dropping by -0.22 million shares to a total of 5.66 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 5.88 million shares. There was a decline of -3.89%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.89% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.01.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 79,291,568 shares, or roughly 11.10% of the outstanding CTVA shares. In other words, the investor’s shares have risen by 143,013 from its previous 13-F filing of 79148555.0. Additionally, BlackRock Fund Advisors increased 6.17% of its stake after which the total value it holdings stand at $2,491,824,356, while SSgA Funds Management, Inc. reduced -1.11% of its stake to hold $2.18 billion in the firm. Over the last quarter, Aristotle Capital Management LLC sold -1,145,185 shares of Corteva Inc., while Capital Research & Management Co sold 431,384 shares. At present, Fidelity Management & Research Co is holding 16,925,880 shares valued at $1.09 billion. Geode Capital Management LLC owned 14,517,876 shares of the company at the time of its most recent 13F filing, worth $935.68 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 17.74 percent from its previous closing price of $62.00. Analysts expect Corteva Inc. stock to reach the higher price of $87.00, while the lowest price estimate is $60.00. However, 26 analysts have rated CTVA stock as an Overweight in their predictions for 2023.


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