Main shareholders of Virgin Galactic (SPCE)

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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 humans on multi-day trips that include views of Earth from space. Its activities include the design, development, manufacture, ground and flight testing and maintenance of its spaceflight system vehicles.

Major shareholders of Virgin Galactic are Adam Bain, Michael A. Colglazier, Michael Patrick Moses, Virgin Investments Ltd., SCH Sponsor Corp. and Vanguard Group Inc.

Virgin Galactic’s 12-month net profit is -$500.15 million and it recorded $2.31 million in revenue during that period. The company’s market capitalization was approximately $955.7 million as of December 31, 2022.

Key points to remember

  • An “insider” shareholder is usually someone who holds a management position and is a member of the board of directors, but these shareholders can also include people or entities who own more than 10% of the shares of the company.
  • The three major individual insider 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 insider individual shareholders

Shares held by individual insider shareholders are those held in direct ownership. The stocks mentioned here do not include those which are held indirectly or stocks which are accessible through stock options.

Company insiders must file an SEC Form 4 each time they buy or sell a quantity of company stock deemed material.

“Insider” means persons in senior management positions and members of the board of directors, as well as persons or entities who hold more than 10% of the shares of the company. In this context, it has nothing to do with insider trading.

Adam Bain

Adam Bain held a total of 1.2 million Virgin Galactic shares as of June 2022, representing approximately 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 purpose acquisition company (SPAC), also known as a “blank check” company.

Bain was previously chief operating officer (COO) of Twitter Inc. (TWTR), before Elon Musk bought the company and merged it with X Corp. He spent 13 years at News Corp. (NWSA) before that, where he served as president. from the Fox Audience Network. He is a board member of the online clothing marketplace GOAT Group in addition to his director roles.

Michel 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 its President and Chief Executive Officer (CEO). His goal is to develop the company’s space experience and lead the strategy involving the construction of the company’s future fleet of spacecraft.

He worked for over three decades with The Walt Disney Company (DIS) before joining Virgin Galactic. While at Disney, he spent time as President and CEO of Disney Parks International and as President of The Disneyland Resort in Southern California before that.

Michael Patrick Moses

Michael Patrick Moses owned a total of 369,714 shares of Virgin Galactic as of February 28, 2022, representing 0.10% of the company’s total outstanding shares. He is the Company’s President for Space Missions and Security, responsible for ensuring the safety and success of Virgin Galactic’s space operations. This includes vehicle processing for the VMS Eve and SpaceShipTwo space vehicles, flight planning, astronaut training, and flight crew operations.

Moses joined the company after spending more than a decade at NASA. He worked as NASA’s launch integration manager at Kennedy Space Center in Florida between 2008 and 2011. He also spent time as chairman of the mission management team, as flight director at Johnson Space Center and as a flight controller in the Shuttle Propulsion. and Electrical Systems Group.

Top 3 institutional shareholders

Institutional investors own 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 over $7 trillion in global assets under management (AUM). One of the Vanguard funds that owns shares of Virgin Galactic is the Vanguard Russell 1000 Growth ETF (VONG), which has a total of $82.0 billion in assets under management. Virgin Galactic owns 0.02% of VONG.

BlackRock Inc.

BlackRock Inc. says it is “one of the world’s leading providers of investment, advisory and risk management solutions.” She owned 20,320,988 Class A shares of Virgin Galactic Holdings Inc. valued at $82,300,001 as of March 31, 2023. This represents an increase from the 19.6 million shares at the end of 2022. The value of the shares was $85,957,779 at that date.

State Street Corporation

State Street presents itself as an asset manager. It provides research, servicing and management services to institutional investors. State Street Corp’s disclosed ownership of Virgin Galactic was 17,308,278 shares as of February 3, 2023. This represents 6.3% ownership for a total value of $60.23 million.

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