The smart money is flying out of Facebook as the dumb money piles in.

A week ago, Facebook was targeting a valuation of $77 billion to $96 billion in its IPO and early investors were already looking to book plenty of profits by selling their own shares to the public. Venture capitalists Peter Thiel and Accel Partners were planning to sell up to 20% and 22% of their stakes respectively in the offering.

Fast forward to this week. Facebook has raised its target price range to as much as $104 billion. Now, some early investors want to sell a lot more.

Accel Partners plans to sell up to 28% of its shares.

Peter Thiel plans to sell as much as 50% of his stake.

Goldman Sachs will also sell as much as 50%, up from 23% previously.

DST Global and Mail.ru will dump up to 40% of their shares, up from 23% previously.

Tiger Global will sell up to 50% of its stake. Previously it planned to sell 7%.

Company insiders aren't increasing planned share sales. CEO Mark Zuckerberg still plans to sell 6% of his stake. Other Facebook executives like COO Sheryl Sandberg and CFO David Ebersman aren't selling any shares at all.

And there are other early investors that aren't increasing their share sales. T. Rowe Price for instance is holding on to what it has.