Virgin Galactic Holdings Inc. (SPCE) is an aerospace company that develops spacecraft for human travel and tourism. The company designs and builds a program to transport people on multi-day trips that include views of Earth from space. Its activities include the design, development, production, ground and flight testing and maintenance of its space flight vehicles.
Top shareholders Virgin Galactic are Adam Bain, Michael A. Colglazier, Michael Patrick Moses, Virgin Investments Ltd., SCH Sponsor Corp. and Vanguard Group Inc.
Virgin Galactic’s trailing 12-month market net income is -$500.15 million and it reported sales of $2.31 million for the period. Companies market capitalization was about $955.7 million as of December 31, 2022.
Key things
- An “insider” shareholder is usually one who is in a senior management position and a member of the board of directors, but these shareholders may also include persons or entities that own more than 10% of the company’s shares.
- The three main shareholders of Virgin Galactic are Adam Bain, Michael A. Colglazier and Michael Patrick Moses.
- Vanguard Group is Virgin Galactic’s largest institutional shareholder, holding 19.9 million shares at the end of 2022.
Top 3 individual insider shareholders
Shares held by individual insiders are those held through direct ownership. Shares listed here do not include those held indirectly or shares available through stock options.
Company insiders must file an SEC Form 4 each time they buy or sell an amount of the company’s stock that is considered material.
“Insider” refers to persons in senior management positions and members of the board of directors, as well as persons or entities that own more than 10% of the company’s shares. In this context, it has nothing to do with insider trading.
Adam Bain
Adam Bain owned a total of 1.2 million Virgin Galactic shares as of June 2022, representing about 0.42% of the company’s total outstanding shares. He is an independent director of Virgin Galactic. Bain is also a director of Social Capital Hedosophia Holdings Corp. (IPOF), which focuses on investing in technology companies. Hedosophia Holdings is a special acquisition company (SLEEPER), also known as “blank check” company.
Bain previously served as Chief Operating Officer (COO) of Twitter Inc. (TWTR), before Elon Musk bought the company and folded it into X Corp. Spent 13 years at News Corp. (NWSA), where he previously served as president of the Fox Audience Network. In addition to his directorship, he serves as a board member of the online clothing marketplace GOAT Group.
Michael A. Colglazier
Michael A. Colglazier owns a total of 1,111,789 Virgin Galactic shares as of March 2023, representing 0.39% of the company’s total outstanding shares. Colglazier joined the company in 2020. He is the CEO (Chief Executive Officer). He is focused on developing the company’s space experience and guiding the strategy involving the construction of the company’s future spaceship fleet.
He has worked with The Walt Disney Company for over three decades (DIS) before joining Virgin Galactic. While at Disney, he spent time as president and chief executive officer of Disney Parks International and before that as president of the Disneyland Resort in Southern California.
Michael Patrick Moses
Michael Patrick Moses owned a total of 369,714 Virgin Galactic shares as of February 28, 2022, representing 0.10% of the company’s total outstanding shares. He is the company’s President of Space Missions and Safety, responsible for ensuring the safety and success of operations on the Virgin Galactic Space Line. This includes vehicle processing for the VMS Eve and SpaceShipTwo spacecraft, flight planning, astronaut training and flight crew operations.
Moses joined the company after spending more than a decade at NASA. From 2008 to 2011, he worked as NASA’s launch integration manager at the Kennedy Space Center in Florida. He also spent time as mission management team chairman, as a flight director at Johnson Space Center, and as a flight controller at Shuttle Propulsion. and Electrical Systems Group.
Top 3 institutional shareholders
Institutional investors hold approximately 35% of Virgin Galactic’s total outstanding shares.
Vanguard Group, Inc.
Vanguard Group owns 19.9 million shares of Virgin Galactic. This represented 7.13% of the total shares outstanding as of December 30, 2022. The company is primarily a mutual fund and ETF management company with more than $7 trillion in global assets under management (AUM). One Vanguard fund that holds shares of Virgin Galactic is the Vanguard Russell 1000 Growth ETF (VONG), which has a total of $82.0 billion in AUM. Virgin Galactic holds 0.02% of VONG.
BlackRock Inc.
BlackRock Inc. states that it is “one of the world’s leading providers of investment, advisory and risk solutions.” She owned 20,320,988 shares of Virgin Galactic Holdings Inc. of Class A worth $82,300,001 as of March 31, 2023. That’s up from 19.6 million shares at the end of 2022. The stock was valued at $85,957,779 on that date.
State Street Corp
State Street bills itself as an asset manager. It provides investment research, service and management to institutional investors. State Street Corp’s Virgin Galactic’s disclosed ownership as of February 3, 2023 was 17,308,278 shares. This represents a 6.3% ownership with a total value of $60.23 million.