Microsoft Corp. co-founder Paul Allen sold more of his shares in DreamWorks Animation SKG Inc. Tuesday, according to the Glendale-based studio.

Allen, through his DW Investment II Inc. investment company, sold 2.4 million shares at $31.06 per share making the total sale worth more than $75 million.

In August, Allen sold off 10 million shares and resigned from the board of the studio as part of his divestment strategy from the company he helped found. He also sold 12 million shares in November. At one point, Allen owned about 20 percent of the shares in DreamWorks.

Allen originally invested about $700 million and has been slowly divesting his stake over the past year. The original investment has paid off well for Allen, reports have said.

Allen’s remaining stake is less than 5 million shares.

Shares in DreamWorks closed down 1.2 percent to $29.57 in trading Tuesday on the New York Stock Exchange.