Virgin Galactic Holdings Inc. (SPCE) is an aerospace company developing spacecraft for human travel and tourism. The company is designing and building a program for transporting humans on multi-day trips that include views of Earth from space. Its operations include designing, developing, manufacturing, ground and flight testing, and maintenance of its spaceflight system vehicles.
The top 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 net income is -$746.2 million and it posted no revenue during that period. The company's market cap is about $6.1 billion. These financial data are as of Oct. 1, 2021.
"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
Top 3 Individual Insider Shareholders
The shares owned by individual insider shareholders are those that are held through direct ownership. Shares mentioned in this section do not include shares held indirectly nor shares accessible through stock options. Company insiders must file an SEC Form 4 every time they buy or sell an amount of the company's stock that is deemed to be material.
Adam Bain owns a total of 1.2 million Virgin Galactic shares, representing 0.47% of the company's total shares outstanding. He is an independent director for Virgin Galactic. Bain is also a director of Social Capital Hedosophia Holdings Corp. (IPOF), which is focused on investing in technology companies. Hedosophia Holdings is a special purpose acquisition company (SPAC), also known as a "blank check" company. He previously served as the chief operating officer (COO) of Twitter Inc. (TWTR). Before that, Bain spent 13 years at News Corp. (NWSA) where he worked as president of the Fox Audience Network. In addition to his director roles, he serves as a member of the board of online apparel marketplace GOAT Group.
Michael A. Colglazier
Michael A. Colglazier owns a total of 623,445 Virgin Galactic shares, representing 0.24% of the company's total shares outstanding. Colglazier, who joined the company in 2020, is chief executive officer (CEO). His focus is on developing the company's space experience and leading the strategy involving the construction of the company's future fleet of spacecraft. Before joining Virgin Galactic, he worked for more than three decades with The Walt Disney Co. (DIS). While at Disney, he spent time serving as president and managing director of Disney Parks International and before that as president of The Disneyland Resort in Southern California.
Michael Patrick Moses
Michael Patrick Moses owns a total of 409,000 Virgin Galactic shares, representing 0.16% of the company's total shares outstanding. He is the company's president for space missions and safety. He is in charge of ensuring the safety and success of Virgin Galactic's spaceline operations, including vehicle processing for the new VMS Eve and SpaceShipTwo space vehicles, flight planning; astronaut training, and flight crew operations. Moses joined the company after spending over a decade at NASA. Between 2008 and 2011, he worked as NASA's launch integration manager at the Kennedy Space Center in Florida. He also spent time as chair of the Mission Management Team, as a flight director at the Johnson Space Center, and as a flight controller in the Shuttle Propulsion and Electrical Systems Group.
Top 3 Institutional Shareholders
Institutional investors hold approximately 21% of Virgin Galactic's total shares outstanding.
Virgin Investments Ltd.
Virgin Investments owns 46.3 million shares of Virgin Galactic, representing 18.0% of total shares outstanding, according to the company's 13D filing for the period ending Aug. 10, 2021. The company makes investments on behalf of its sole shareholder, Virgin Group Investments LLC. The sole managing member of Virgin Group Investments is Corvina Holdings Ltd., whose sole shareholder is Virgin Group Holdings Ltd. Billionaire Richard Branson is the sole shareholder of Virgin Group Holdings, which is comprised of companies spanning multiple sectors, including travel and leisure, health and wellness, music and entertainment, telecoms and media, financial services, and space.
SCH Sponsor Corp.
SCH Sponsor owns 23.8 million shares of Virgin Galactic, representing 9.2% of total shares outstanding, according to the company's 13D filing for the period ending March 2, 2021. SCH is a holding company used to make investments for two investors: Chamath Palihapitiya, who is Virgin Galactic's chairman of the board of directors, and Ian Osborne. SCH Sponsor's sole holding is shares of Virgin Galactic, as of March 2, 2021. In early March, Palihapitiya sold the remaining shares that he held directly as a part of his personal stake. He still holds an indirect stake in Virgin Galactic with Osborne via SCH Sponsor.
Vanguard Group Inc.
Vanguard Group owns 13.7 million shares of Virgin Galactic, representing 5.3% of total shares outstanding, according to the company's 13F filing for the period ending June 30, 2021. The company is primarily a mutual fund and ETF management company with about $7.2 trillion in global assets under management (AUM). One of Vanguard's funds 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 comprises 0.02% of VONG.