Autodesk Inc. (ADSK) traded on unusually high volume on Oct. 05, as the stock lost 0.07% to close at $152.00. On the day, Autodesk Inc. saw 3.24 million shares trade hands on 29,501 trades. Considering that the stock averages only a daily volume of 2.02 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $159.94 and $101.55 over the last 52-weeks, its 50-day SMA is now $144.47, and its 200-day SMA $130.34. Autodesk Inc. has a P/B ratio of -136.94.
Autodesk Inc is engaged in the software industry. It develops software for a number of markets such as construction and media.
Headquartered in San Rafael, CA, Autodesk Inc. has 8,800 employees and is currently under the leadership of CEO Andrew Anagnost.