Based on 67 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their PRPL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 65% of 3.0Y high
65% of all-time peak
Only 67 funds hold PRPL today versus a peak of 103 funds at 2023 Q2 — just 65% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
17 fewer hedge funds hold PRPL compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 39% buying
18 buying28 selling
Last quarter: 28 funds sold vs only 18 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 21 → 23 → 7 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 30% medium
■ 13% new
38 out of 67 hedge funds have held PRPL for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
⚠️
Saturation — most institutions already know this story
9 → 21 → 23 → 7 → 5 new funds/Q
New funds entering each quarter: 21 → 23 → 7 → 5. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Veteran-anchored — 66% veterans vs 21% newcomers
■ 66% veterans
■ 13% 1-2yr
■ 21% new
Entry-cohort mix of 68 holders: 45 (66%) are 2+ year veterans, 9 entered 1–2 years ago, and 14 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 4% AUM from top-100
4% from top-100 AUM funds
18 of 67 holders rank in the top 100 by AUM, but together hold only 4% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.