Robinhood reported November 2025 operating data, showing mixed customer growth, asset changes, and trading volumes impacting financial performance.
Quiver AI Summary
Robinhood Markets, Inc. reported its monthly operating data for November 2025, revealing that funded customers declined to 26.9 million, down about 130,000 from October but up 2.1 million year-over-year. The drop was influenced by the required escheatment of approximately 280,000 low-balance accounts. Total platform assets were $325 billion, reflecting a 5% decrease from October but a 67% increase compared to the previous year. Net deposits for November reached $7.1 billion, demonstrating a strong annual growth rate of 36%. However, trading volumes declined significantly across equities, options, and crypto compared to October, although some areas saw year-over-year growth. The company's margin balances and securities lending revenue both increased year-over-year but saw a decline month-over-month. Overall, while Robinhood experienced a drop in customer numbers and trading volumes, it's still showing robust growth in net deposits and year-over-year asset gains.
Potential Positives
- Funded Customers increased by approximately 2.10 million year-over-year, demonstrating strong customer growth despite a minor month-over-month decline.
- Total Platform Assets saw a significant year-over-year increase of 67%, indicating substantial asset growth and overall business expansion.
- Net Deposits reached $7.1 billion in November 2025, reflecting a 25% annualized growth rate compared to the previous month, and a strong annual growth rate of 36% over the last twelve months.
- Event Contracts traded increased by 20% from October 2025, highlighting a positive trend in trading activity within this specific category.
Potential Negatives
- Decline in Funded Customers by approximately 130,000 from the previous month raises concerns about customer retention and potential loss of interest in the platform.
- Significant drop in Total Platform Assets by 5% from the previous month indicates potential issues with market confidence and investment activity.
- Decrease in trading volumes across multiple categories, including a 37% drop in Equity Notional Trading Volumes and a 12% drop in Crypto Notional Trading Volumes, may reflect declining user engagement and overall trading activity.
FAQ
What are the key metrics for Robinhood in November 2025?
In November 2025, Robinhood reported 26.9 million funded customers and total platform assets of $325 billion.
How did trading volumes change in November 2025?
Equity trading volumes decreased by 37%, while options contracts traded fell by 28%, both compared to October 2025.
What was the growth rate of net deposits for Robinhood?
Net deposits in November 2025 were $7.1 billion, showing a 25% annualized growth rate relative to October 2025.
How did margin balances perform in November 2025?
Margin balances increased by 2% from October 2025, amounting to $16.8 billion, and grew 147% year-over-year.
What happened to the Non-Gold Cash Sweep program?
The Non-Gold Cash Sweep program was wound down in November 2025, moving approximately $700 million to customer free credit balances.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HOOD Insider Trading Activity
$HOOD insiders have traded $HOOD stock on the open market 133 times in the past 6 months. Of those trades, 1 have been purchases and 132 have been sales.
Here’s a breakdown of recent trading of $HOOD stock by insiders over the last 6 months:
- VLADIMIR TENEV (Chief Executive Officer) has made 0 purchases and 15 sales selling 5,525,932 shares for an estimated $629,647,775.
- BAIJU BHATT has made 0 purchases and 23 sales selling 5,418,967 shares for an estimated $602,590,848.
- MEYER MALKA has made 0 purchases and 3 sales selling 1,173,808 shares for an estimated $121,937,352.
- JASON WARNICK (Chief Financial Officer) has made 0 purchases and 7 sales selling 925,000 shares for an estimated $95,970,620.
- DANIEL MARTIN JR GALLAGHER (Chief Legal Officer) has made 0 purchases and 33 sales selling 530,000 shares for an estimated $60,378,636.
- STEVEN M. QUIRK (Chief Brokerage Officer) has made 0 purchases and 21 sales selling 290,793 shares for an estimated $31,455,171.
- JONATHAN RUBINSTEIN has made 0 purchases and 4 sales selling 42,430 shares for an estimated $5,611,794.
- JEFFREY TSVI PINNER (Chief Technology Officer) has made 0 purchases and 26 sales selling 46,914 shares for an estimated $5,434,530.
- CHRISTOPHER D PAYNE purchased 26,500 shares for an estimated $1,965,995
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HOOD Revenue
$HOOD had revenues of $1.3B in Q3 2025. This is an increase of 100.0% from the same period in the prior year.
You can track HOOD financials on Quiver Quantitative's HOOD stock page.
$HOOD Congressional Stock Trading
Members of Congress have traded $HOOD stock 7 times in the past 6 months. Of those trades, 7 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $HOOD stock by members of Congress over the last 6 months:
- REPRESENTATIVE JONATHAN L. JACKSON has traded it 3 times. They made 3 purchases worth up to $115,000 on 11/06, 10/08, 09/05 and 0 sales.
- REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 2 purchases worth up to $30,000 on 10/17, 07/09 and 0 sales.
- REPRESENTATIVE CLEO FIELDS has traded it 2 times. They made 2 purchases worth up to $100,000 on 07/21, 07/17 and 0 sales.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$HOOD Hedge Fund Activity
We have seen 831 institutional investors add shares of $HOOD stock to their portfolio, and 537 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 18,824,923 shares (+24.9%) to their portfolio in Q3 2025, for an estimated $2,695,352,475
- STATE STREET CORP added 16,375,734 shares (+103.2%) to their portfolio in Q3 2025, for an estimated $2,344,677,594
- BLACKROCK, INC. added 16,213,055 shares (+37.5%) to their portfolio in Q3 2025, for an estimated $2,321,385,214
- KINGSTONE CAPITAL PARTNERS TEXAS, LLC removed 10,110,525 shares (-99.5%) from their portfolio in Q3 2025, for an estimated $1,447,624,969
- RENAISSANCE TECHNOLOGIES LLC removed 9,513,384 shares (-82.6%) from their portfolio in Q3 2025, for an estimated $1,362,126,321
- GEODE CAPITAL MANAGEMENT, LLC added 7,638,484 shares (+58.0%) to their portfolio in Q3 2025, for an estimated $1,093,678,139
- FMR LLC removed 7,579,476 shares (-19.5%) from their portfolio in Q3 2025, for an estimated $1,085,229,373
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$HOOD Analyst Ratings
Wall Street analysts have issued reports on $HOOD in the last several months. We have seen 12 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- B of A Securities issued a "Buy" rating on 12/10/2025
- Citizens issued a "Market Outperform" rating on 11/07/2025
- Mizuho issued a "Outperform" rating on 11/06/2025
- CICC issued a "Outperform" rating on 10/27/2025
- JMP Securities issued a "Market Outperform" rating on 10/09/2025
- Needham issued a "Buy" rating on 09/30/2025
- Goldman Sachs issued a "Buy" rating on 09/30/2025
To track analyst ratings and price targets for $HOOD, check out Quiver Quantitative's $HOOD forecast page.
$HOOD Price Targets
Multiple analysts have issued price targets for $HOOD recently. We have seen 16 analysts offer price targets for $HOOD in the last 6 months, with a median target of $153.0.
Here are some recent targets:
- Craig Siegenthaler from B of A Securities set a target price of $154.0 on 12/10/2025
- John Todaro from Needham set a target price of $145.0 on 12/05/2025
- Devin Ryan from Citizens set a target price of $180.0 on 11/07/2025
- Benjamin Budish from Barclays set a target price of $168.0 on 11/06/2025
- Dan Dolev from Mizuho set a target price of $172.0 on 11/06/2025
- Kyle Voigt from Keefe, Bruyette & Woods set a target price of $135.0 on 11/06/2025
- Brett Knoblauch from Cantor Fitzgerald set a target price of $155.0 on 11/06/2025
Full Release
MENLO PARK, Calif., Dec. 10, 2025 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported select monthly operating data for November 2025.
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Funded Customers at the end of November were 26.9 million (down approximately 130 thousand from the end of October 2025, up approximately 2.10 million year-over-year).
- This includes the impact of required escheatment of approximately 280 thousand low-balance accounts. Prior to the escheatment, Funded Customers would have grown by approximately 150 thousand in November.
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Total Platform Assets at the end of November were $325 billion (down 5% from the end of October 2025, up 67% year-over-year).
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Net Deposits were $7.1 billion in November, or a 25% annualized growth rate relative to October 2025 Total Platform Assets.
- Over the last twelve months, Net Deposits were $70.2 billion, or an annual growth rate of 36% relative to November 2024 Total Platform Assets.
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Trading Volumes in November:
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Equity Notional Trading Volumes were $201.5 billion (down 37% from October 2025, up 37% year-over-year).
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Options Contracts Traded were 193.2 million (down 28% from October 2025, up 24% year-over-year).
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Crypto Notional Trading Volumes were $28.6 billion (down 12% from October 2025, down 19% year-over-year), including Robinhood App Notional Trading Volumes of $12.0 billion (down 14% from October 2025, down 66% year-over-year) and Bitstamp Notional Trading Volumes of $16.6 billion (down 11% from October 2025).
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Event Contracts Traded were 3.0 billion (up 20% from October 2025).
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Equity Notional Trading Volumes were $201.5 billion (down 37% from October 2025, up 37% year-over-year).
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Margin balances at the end of November were $16.8 billion (up 2% from the end of October 2025, up 147% year-over-year).
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Total Cash Sweep balances at the end of November were $32.5 billion (down 5% from the end of October 2025, up 23% year-over-year).
- This includes the impact of roughly $700 million of Non-Gold Cash Sweep balances moving to customer free credit balances as we wound down the Robinhood Non-Gold Cash Sweep program in November 2025.
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Total Securities Lending Revenue in November was $34 million (down 43% from October 2025, up 48% year-over-year).
|
November
2025 |
October
2025 |
M/M
Change |
November
2024 |
Y/Y
Change |
|
| (M - in millions, B - in billions) | |||||
| Funded Customer Growth (M) | |||||
| Funded Customers | 26.9 | 27.1 | (1 %) | 24.8 | +8% |
| Asset Growth ($B) | |||||
| Total Platform Assets | $324.5 | $342.6 | (5 %) | $194.6 | +67% |
| Net Deposits 1 | $7.1 | $5.6 | NM | $5.6 | NM |
| Trading | |||||
| Trading Days (Equities and Options) | 19 | 23 | (17 %) | 20 | (5 %) |
| Total Trading Volumes | |||||
| Equity ($B) | $201.5 | $320.1 | (37 %) | $147.1 | +37% |
| Options Contracts (M) | 193.2 | 266.7 | (28 %) | 155.5 | +24% |
| Crypto ($B) 2 | $28.6 | $32.5 | (12 %) | $35.2 | (19 %) |
| Robinhood App ($B) | $12.0 | $13.9 | (14 %) | $35.2 | (66 %) |
| Bitstamp ($B) | $16.6 | $18.6 | (11 %) | - | NA |
| Event Contracts (B) | 3.0 | 2.5 | +20% | 0.5 | NM |
| Daily Average Revenue Trades (DARTs) (M) | |||||
| Equity | 2.7 | 3.1 | (13 %) | 2.5 | +8% |
| Options | 1.3 | 1.4 | (7 %) | 1.0 | +30% |
| Crypto 3 | 0.6 | 0.6 | - | 1.0 | (40 %) |
| Customer Margin and Cash Sweep ($B) | |||||
| Margin Book | $16.8 | $16.5 | +2% | $6.8 | +147% |
| Total Cash Sweep | $32.5 | $34.2 | (5 %) | $26.5 | +23% |
| Gold Cash Sweep | $31.4 | $32.4 | (3 %) | $25.7 | +22% |
| Non-Gold Cash Sweep 4 | $1.1 | $1.8 | (39 %) | $0.8 | +38% |
| Total Securities Lending Revenue ($M) | $34 | $60 | (43 %) | $23 | +48% |
1. Starting in June 2025, Net Deposits include results from Bitstamp. Net Deposits do not include results from TradePMR.
2. Refer to Robinhood’s full monthly metrics release for the definition of Notional Trading Volume.
3. Crypto DARTs do not include Bitstamp Institutional activity.
4. In November 2025, the Robinhood Non-Gold Cash Sweep program ended, moving approximately $700 million of Non-Gold Cash Sweep to customer free credit balances. RIA cash sweep balances remain in Non-Gold Cash Sweep.
For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics release, which is available on investors.robinhood.com .
The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Robinhood’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Robinhood’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release.
About Robinhood
Robinhood Markets, Inc. (NASDAQ: HOOD) transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors. Today, Robinhood, through its subsidiaries, lets you trade stocks, options, futures (which includes event contracts), and crypto, invest for retirement, earn with Robinhood Gold, and access an expert-managed portfolio with Robinhood Strategies. Headquartered in Menlo Park, California, Robinhood puts customers in the driver’s seat, delivering unprecedented value and products intentionally designed for a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.
Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview ) and its Newsroom (accessible at newsroom.aboutrobinhood.com ), as means of disclosing information to the public in a broad, non-exclusionary manner for purposes of the SEC Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.
“Robinhood” and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners.
Contacts
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Press: [email protected]