RBC Drops Dropbox Stake by 93% in First Quarter

Royal Bank of Canada significantly reduced its stake in Dropbox, Inc. during the first quarter, according to a recent filing with the SEC.

The bank sold 5,909,172 shares of Dropbox stock, lowering its overall holdings by 92.7% from 461,953 shares at the end of the quarter.

This reduction in ownership represents approximately $10,495,000 worth of Dropbox stock, or about 0.20% of the company's total value as of the most recent quarter.