Teenage users have been drifting away from Facebook for the last few years, but now it seems they’re in a mad rush to get off the world’s largest social network.

A study by investment bank Piper Jaffray (download PDF) about teen behavior on everything from online shopping to social media use shows that Facebook is a distant third when it comes to teens’ favorite social networks.

After surveying 7,200 teenagers with an average age of 16, Piper Jaffray found that about 80% cited Instagram as their favorite social site, 65% said they like Twitter and about 40% said they use Facebook.

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