Virgin Galactic Holdings Inc. (SPCE) is an aerospace firm that develops spacecraft for human journey and tourism. The corporate is designing and constructing a program for transporting people on multi-day journeys that embrace views of Earth from area. Its operations embrace designing, growing, manufacturing, floor and flight testing, and upkeep of its spaceflight system autos.
The highest 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 trailing web earnings is -$500.15 million and it posted $2.31 million in income throughout that interval. The corporate’s market cap was about $955.7 million as of Dec. 31, 2022.
Key Takeaways
- An “insider” shareholder is often one who’s in a senior administration place and is a member of the board of administrators, however these shareholders may also embrace individuals or entities that personal greater than 10% of the corporate’s inventory.
- Virgin Galactic’s prime three particular person insider shareholders are Adam Bain, Michael A. Colglazier, and Michael Patrick Moses.
- Vanguard Group is Virgin Galactic’s prime institutional shareholder, holding 19.9 million shares on the shut of 2022.
Prime 3 Particular person Insider Shareholders
The shares owned by particular person insider shareholders are these which can be held by way of direct possession. Shares talked about right here do not embrace these which can be held not directly or shares which can be accessible by way of inventory choices.
Firm insiders should file an SEC Kind 4 each time they purchase or promote an quantity of the corporate’s inventory that’s deemed to be materials.
“Insider” refers to individuals in senior administration positions and members of the board of administrators, in addition to individuals or entities that personal greater than 10% of the corporate’s inventory. On this context, it has nothing to do with insider buying and selling.
Adam Bain
Adam Bain owned a complete of 1.2 million Virgin Galactic shares as of June 2022, representing about 0.42% of the corporate’s complete shares excellent. He is an impartial director for Virgin Galactic. Bain can be a director of Social Capital Hedosophia Holdings Corp. (IPOF), which is targeted on investing in know-how firms. Hedosophia Holdings is a particular function acquisition firm (SPAC), often known as a “clean examine” firm.
Bain beforehand served because the chief working officer (COO) of Twitter Inc. (TWTR), earlier than Elon Musk bought the corporate and folded it into X Corp. He spent 13 years at Information Corp. (NWSA) earlier than that the place he labored as president of the Fox Viewers Community. He serves as a member of the board of the web attire market GOAT Group along with his director roles.
Michael A. Colglazier
Michael A. Colglazier owns a complete of 1,111,789 Virgin Galactic shares as of March 2023, representing 0.39% of the corporate’s complete shares excellent. Colglazier joined the corporate in 2020. He is chief government officer (CEO). His focus is on growing the corporate’s area expertise and main the technique involving the development of the corporate’s future fleet of spacecraft.
He labored for greater than three a long time with The Walt Disney Firm (DIS) earlier than becoming a member of Virgin Galactic. Whereas at Disney, he frolicked serving as president and managing director of Disney Parks Worldwide and as president of The Disneyland Resort in Southern California earlier than that.
Michael Patrick Moses
Michael Patrick Moses owned a complete of 369,714 Virgin Galactic shares as of Feb. 28, 2022, representing 0.10% of the corporate’s complete shares excellent. He is the corporate’s president for area missions and security, accountable for making certain the protection and success of Virgin Galactic’s spaceline operations. This consists of automobile processing for the VMS Eve and SpaceShipTwo area autos, flight planning, astronaut coaching, and flight crew operations.
Moses joined the corporate after spending over a decade at NASA. He labored as NASA’s launch integration supervisor on the Kennedy House Middle in Florida between 2008 and 2011. He additionally frolicked as chair of the Mission Administration Workforce, as a flight director on the Johnson House Middle, and as a flight controller within the Shuttle Propulsion and Electrical Techniques Group.
Prime 3 Institutional Shareholders
Institutional buyers maintain roughly 35% of Virgin Galactic’s complete shares excellent.
Vanguard Group, Inc.
Vanguard Group owns 19.9 million shares of Virgin Galactic. This represented 7.13% of complete shares excellent as of Dec. 30, 2022. The corporate is primarily a mutual fund and ETF administration firm with greater than $7 trillion in world property below administration (AUM). One in all Vanguard’s funds that holds shares of Virgin Galactic is the Vanguard Russell 1000 Progress ETF (VONG), which has a complete of $82.0 billion in AUM. Virgin Galactic holds 0.02% of VONG.
BlackRock Inc.
BlackRock Inc. signifies that it is “one of many world’s main suppliers of funding, advisory and danger administration options.” It owned 20,320,988 shares of Virgin Galactic Holdings Inc. Class A inventory valued at $82,300,001 as of March 31, 2023. That is up from 19.6 million shares on the finish of 2022. The worth of the shares was $85,957,779 as of that date.
State Road Corp
State Road payments itself as an asset supervisor. It gives funding analysis, servicing and administration to institutional buyers. State Road Corp’s disclosed possession of Virgin Galactic was 17,308,278 shares as of February 3, 2023. This accounts for six.3% possession at a complete worth of $60.23 million.