Robinhood reported robust growth in November 2024, with significant increases in funded customers, assets, and trading volumes across multiple categories.
Quiver AI Summary
Robinhood Markets, Inc. reported strong operating metrics for November 2024, highlighting significant year-over-year growth in both customer engagement and asset management. The number of funded customers reached 24.8 million, an increase of 1.5 million compared to the previous year. Assets Under Custody rose to $195 billion, marking a 106% increase year-over-year, while net deposits for the month were $5.6 billion, resulting in an annual growth rate of 50%. Trading volumes also showed substantial growth with equity trading at $147.1 billion, up 178% year-over-year, although options contracts traded slightly declined. Crypto trading volumes surged remarkably, increasing over 500% from the previous month. Additionally, key financial metrics, including margin balances and securities lending revenue, also saw significant increases compared to both the prior month and the same period last year. Overall, the data reflects Robinhood's strong performance and continued customer acquisition momentum in the competitive trading market.
Potential Positives
- Funded Customers increased to 24.8 million, marking a rise of approximately 1.5 million year-over-year, indicating strong user growth.
- Assets Under Custody (AUC) reached $195 billion, reflecting a substantial 106% increase year-over-year, showcasing the company's growing customer asset base.
- Crypto Notional Trading Volumes surged over 500% from October 2024 and over 700% year-over-year, highlighting significant interest and activity in cryptocurrency trading.
- Total Securities Lending Revenue for November was $23 million, up 109% year-over-year, demonstrating a strong revenue growth in this segment.
Potential Negatives
- Options contracts traded experienced a decline of 2% from the previous month, which could indicate a weakening demand in that segment despite growth in other trading volumes.
- The press release notes that the information provided is preliminary and subject to change, which may raise concerns regarding the reliability of the reported figures.
- The staggering growth in crypto trading volumes, while impressive, raises questions about sustainability and regulatory scrutiny in the volatile cryptocurrency market.
FAQ
What was Robinhood's Funded Customer count in November 2024?
Robinhood reported a Funded Customer count of 24.8 million at the end of November 2024.
How much did Assets Under Custody increase?
Assets Under Custody increased to $195 billion, up 22% from October 2024 and 106% year-over-year.
What were the Net Deposits reported by Robinhood?
In November 2024, Robinhood reported Net Deposits of $5.6 billion, reflecting a 42% annualized growth rate.
What was the trading volume for Equities in November 2024?
The Equity Notional Trading Volumes were $147.1 billion, representing a 16% increase from October 2024.
What is Robinhood's mission for investors?
Robinhood aims to democratize access to financial services and provide commission-free trading for millions of investors.
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 33 times in the past 6 months. Of those trades, 0 have been purchases and 33 have been sales.
Here’s a breakdown of recent trading of $HOOD stock by insiders over the last 6 months:
- MEYER MALKA has traded it 9 times. They made 0 purchases and 9 sales, selling 10,211,519 shares.
- DANIEL MARTIN JR GALLAGHER (Chief Legal Officer) has traded it 6 times. They made 0 purchases and 6 sales, selling 131,177 shares.
- STEVEN M. QUIRK (Chief Brokerage Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 228,152 shares.
- JASON WARNICK (Chief Financial Officer) has traded it 5 times. They made 0 purchases and 5 sales, selling 275,000 shares.
- BAIJU BHATT has traded it 6 times. They made 0 purchases and 6 sales, selling 732,690 shares.
- VLADIMIR TENEV (Chief Executive Officer) has traded it 5 times. They made 0 purchases and 5 sales, selling 1,250,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$HOOD Hedge Fund Activity
We have seen 287 institutional investors add shares of $HOOD stock to their portfolio, and 230 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC added 7,861,700 shares (+13.0%) to their portfolio in Q3 2024
- INDEX VENTURE ASSOCIATES VI LTD removed 7,233,966 shares (-20.0%) from their portfolio in Q3 2024
- BLUE OWL CAPITAL HOLDINGS LP removed 4,237,409 shares (-100.0%) from their portfolio in Q2 2024
- CITADEL ADVISORS LLC removed 4,137,961 shares (-97.4%) from their portfolio in Q3 2024
- TWO SIGMA ADVISERS, LP removed 3,904,300 shares (-26.8%) from their portfolio in Q3 2024
- ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC added 3,817,355 shares (+1211858.7%) to their portfolio in Q3 2024
- JANE STREET GROUP, LLC removed 3,578,647 shares (-77.4%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MENLO PARK, Calif., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported select monthly operating data for November 2024:
- Funded Customers at the end of November were 24.8 million (up approximately 420 thousand from October 2024, up approximately 1.5 million year-over-year).
- Assets Under Custody (AUC) at the end of November were $195 billion (up 22% from October 2024, up 106% year-over-year). Net Deposits were $5.6 billion in November, translating to a 42% annualized growth rate relative to October 2024 AUC. Over the last twelve months, Net Deposits were $47.4 billion, translating to an annual growth rate of 50% relative to November 2023 AUC.
- Equity Notional Trading Volumes were $147.1 billion (up 16% from October 2024, up 178% year-over-year). Options Contracts Traded were 155.5 million (down 2% from October 2024, up 63% year-over-year). Crypto Notional Trading Volumes were $35.2 billion (up over 500% from October 2024, up over 700% year-over-year).
- Margin balances at the end of November were $6.8 billion (up 10% from the end of October 2024, up 100% year-over-year).
- Total Cash Sweep balances at the end of November were $26.5 billion (up 4% from the end of October 2024, up 74% year-over-year).
- Total Securities Lending Revenue in November was $23 million (up 21% from October 2024, up 109% year-over-year).
| November 2024 |
October 2024 |
M/M Change |
November 2023 |
Y/Y Change |
|
| (M - in millions, B - in billions) | |||||
| Funded Customer Growth (M) | |||||
| Funded Customers | 24.8 | 24.4 | +2% | 23.3 | +6% |
| Assets Under Custody (AUC) ($B) | |||||
| Total AUC | $194.6 | $159.7 | +22% | $94.4 | +106% |
| Net Deposits | $5.6 | $5.2 | NM | $1.4 | NM |
| Trading | |||||
| Trading Days (Equities and Options) | 20 | 23 | (13 %) | 21 | (5 %) |
| Total Trading Volumes | |||||
| Equity ($B) | $147.1 | $126.4 | +16% | $52.9 | +178% |
| Options Contracts (M) | 155.5 | 158.0 | (2 %) | 95.3 | +63% |
| Crypto ($B) | $35.2 | $5.6 | +529% | $4.0 | +780% |
| Daily Average Revenue Trades (DARTs) (M) | |||||
| Equity | 2.5 | 2.0 | +25% | 1.4 | +79% |
| Options | 1.0 | 0.9 | +11% | 0.6 | +67% |
| Crypto | 1.0 | 0.2 | +400% | 0.2 | +400% |
| Customer Margin and Cash Sweep ($B) | |||||
| Margin Book | $6.8 | $6.2 | +10% | $3.4 | +100% |
| Total Cash Sweep | $26.5 | $25.5 | +4% | $15.2 | +74% |
| Gold Cash Sweep | $25.7 | $24.8 | +4% | $14.5 | +77% |
| Non-Gold Cash Sweep | $0.8 | $0.7 | +14% | $0.7 | +14% |
| Total Securities Lending Revenue ($M) | $23 | $19 | +21% | $11 | +109% |
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 lets you trade stocks, options, commodity interests, and crypto, invest for retirement, and earn with Robinhood Gold. 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 U.S. Securities and Exchange Commission's (“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.
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