Virgin Galactic Holdings Inc. (SPCE) is an innovative aerospace company specializing in developing spacecraft for human travel and tourism. The company is dedicated to designing and building a special program that offers multi-day trips with breathtaking views of Earth from space.
Its operations encompass the entire spectrum, from design and development to manufacturing, ground and flight testing, and maintenance of its spaceflight system vehicles.
Let’s explore the key shareholders of Virgin Galactic, ranging from individual insiders to institutional investors. These shareholders are crucial in shaping the company’s future and driving its success.
The top shareholders of Virgin Galactic include Adam Bain, Michael A. Colglazier, Michael Patrick Moses, Virgin Investments Ltd., SCH Sponsor Corp., and Vanguard Group Inc.
Key Takeaways
- Discover the key shareholders of Virgin Galactic (SPCE), including insider shareholders and institutional investors.
- Learn about the top three individual insider shareholders: Adam Bain, Michael A. Colglazier, and Michael Patrick Moses.
- Vanguard Group emerges as the leading institutional shareholder with 19.9 million shares.
When it comes to individual insider shareholders, their ownership is based on direct ownership rather than indirect holdings or stock options. In this context, these insiders, including senior management and board members or entities owning more than 10% of the company’s stock, are categorized as “insiders“. This term should not be confused with insider trading.
Adam Bain
As an independent director for Virgin Galactic, Adam Bain owns approximately 1.2 million shares, representing about 0.42% of the company’s total outstanding shares. Apart from his involvement with Virgin Galactic, Bain also serves as a director of Social Capital Hedosophia Holdings Corp.
(IPOF), a special purpose acquisition company (SPAC) focused on investing in technology companies. Previously, he held significant positions at Twitter Inc. (TWTR) and News Corp. (NWSA).
Michael A. Colglazier
Michael A. Colglazier joined Virgin Galactic in 2020 and is currently the CEO. With 1,111,789 shares to his name, he owns approximately 0.39% of the company’s total outstanding shares. Colglazier brings over three decades of experience from The Walt Disney Company (DIS), where he held several key positions, including president and managing director of Disney Parks International and president of The Disneyland Resort.
Michael Patrick Moses
Michael Patrick Moses, the president for space missions and safety at Virgin Galactic, is responsible for ensuring the safety and success of the company’s spaceline operations. With 369,714 shares, Moses owns about 0.10% of the company’s outstanding shares. Before joining Virgin Galactic, Moses contributed to NASA for over ten years, serving in various roles, including launch integration manager and flight director.
Moving on to institutional shareholders, these investors collectively hold around 35% of Virgin Galactic’s outstanding shares. Here are the top three institutional shareholders:
Vanguard Group, Inc.
Vanguard Group emerges as the leading institutional shareholder, owning a significant stake of 19.9 million shares, which accounts for 7.13% of the total shares outstanding as of December 30, 2022. Vanguard Group is renowned as a global mutual fund and ETF management company, managing over $7 trillion in assets under management (AUM). One of Vanguard’s funds, the Vanguard Russell 1000 Growth ETF (VONG), holds Virgin Galactic shares.
BlackRock Inc.
BlackRock Inc., a prominent investment and risk management solutions provider, holds 20,320,988 shares of Virgin Galactic Holdings Inc. Class A stock, valued at $82,300,001 as of March 31, 2023. This indicates an increase in ownership from the previous year. With its extensive holdings, BlackRock plays a significant role in shaping Virgin Galactic’s ownership structure.
State Street Corp
State Street Corp, an established asset manager, possesses 17,308,278 shares of Virgin Galactic, representing a 6.3% ownership stake valued at $60.23 million as of February 3, 2023. Through its investment research, servicing, and management expertise, State Street Corp contributes to the growth and stability of Virgin Galactic.
Understanding the key shareholders of Virgin Galactic provides valuable insights into the ownership landscape and the stakeholders who contribute to the company’s trajectory. Whether it’s the individual insider shareholders who bring diverse expertise or the institutional investors who fuel growth, their combined influence shapes the future of Virgin Galactic.