Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Shah Dharmesh	2. Issuer Name and Ticker or Trading Symbol HUBSPOT INC [ HUBS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Technology Officer
(Last) (First) (Middle) C/O HUBSPOT, INC., 25 FIRST STREET, 2ND FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 2/16/2021
(Street) CAMBRIDGE, MA 02141 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	2/16/2021		S⁽¹⁾		409	D	$503.91 ⁽²⁾	1563490	D
Common Stock	2/16/2021		S⁽¹⁾		91	D	$504.86 ⁽³⁾	1563399	D
Common Stock	2/16/2021		S⁽¹⁾		500	D	$506.17 ⁽⁴⁾	1562899	D
Common Stock	2/16/2021		S⁽¹⁾		424	D	$507.93 ⁽⁵⁾	1562475	D
Common Stock	2/16/2021		S⁽¹⁾		600	D	$508.86 ⁽⁶⁾	1561875	D
Common Stock	2/16/2021		S⁽¹⁾		200	D	$509.83 ⁽⁷⁾	1561675	D
Common Stock	2/16/2021		S⁽¹⁾		600	D	$511.19 ⁽⁸⁾	1561075	D
Common Stock	2/16/2021		S⁽¹⁾		300	D	$511.98 ⁽⁹⁾	1560775	D
Common Stock	2/16/2021		S⁽¹⁾		300	D	$513.37 ⁽¹⁰⁾	1560475	D
Common Stock	2/16/2021		S⁽¹⁾		2200	D	$515.61 ⁽¹¹⁾	1558275	D
Common Stock	2/16/2021		S⁽¹⁾		1700	D	$516.53 ⁽¹²⁾	1556575	D
Common Stock	2/16/2021		S⁽¹⁾		2400	D	$517.64 ⁽¹³⁾	1554175	D
Common Stock	2/16/2021		S⁽¹⁾		1300	D	$518.74 ⁽¹⁴⁾	1552875	D
Common Stock	2/16/2021		S⁽¹⁾		300	D	$520.42 ⁽¹⁵⁾	1552575	D
Common Stock	2/16/2021		S⁽¹⁾		100	D	$521.66	1552475	D
Common Stock	2/16/2021		S⁽¹⁾		400	D	$523.63 ⁽¹⁶⁾	1552075	D
Common Stock	2/16/2021		S⁽¹⁾		1000	D	$524.89 ⁽¹⁷⁾	1551075	D
Common Stock	2/16/2021		S⁽¹⁾		2300	D	$525.74 ⁽¹⁸⁾	1548775	D
Common Stock	2/16/2021		S⁽¹⁾		1876	D	$526.81 ⁽¹⁹⁾	1546899	D
Common Stock	2/16/2021		S⁽¹⁾		2800	D	$527.76 ⁽²⁰⁾	1544099	D
Common Stock	2/16/2021		S⁽¹⁾		200	D	$528.56 ⁽²¹⁾	1543899	D
Common Stock								34000	I	See footnote. ⁽²²⁾
Common Stock								26000	I	See footnote. ⁽²³⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:
(1)	The transactions reported on this Form 4 were effected pursuant to a 10b5-1 trading plan.
(2)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $503.68 to $504.60, inclusive.
(3)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $504.77 to $505.19, inclusive.
(4)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $505.81 to $506.51, inclusive.
(5)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $507.62 to $508.13, inclusive.
(6)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $508.63 to $509.49, inclusive.
(7)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $509.73 to $509.94, inclusive.
(8)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $510.75 to $511.68, inclusive.
(9)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $511.89 to $512.33, inclusive.
(10)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $513.16 to $513.82, inclusive.
(11)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $514.98 to $515.96, inclusive.
(12)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $516.12 to $517.08, inclusive.
(13)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $517.18 to $518.15, inclusive.
(14)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $518.36 to $519.06, inclusive.
(15)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $520.00 to $520.64, inclusive.
(16)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $523.23 to $524.06, inclusive.
(17)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $524.34 to $525.33, inclusive.
(18)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $525.34 to $526.26, inclusive.
(19)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $526.40 to $527.36, inclusive.
(20)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.43 to $528.33, inclusive.
(21)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.48 to $528.64, inclusive. The reporting person undertakes to provide to HubSpot, Inc., any security holder of HubSpot, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) through (21) herein.
(22)	Shares held by the Polaris I Trust, for which Dharmesh Shah serves as trustee. The reporting person disclaims beneficial ownership of these securities in excess of his pecuniary interest therein, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
(23)	Shares held by the Polaris II Trust, for which Dharmesh Shah serves as trustee. The reporting person disclaims beneficial ownership of these securities in excess of his pecuniary interest therein, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Shah Dharmesh C/O HUBSPOT, INC. 25 FIRST STREET, 2ND FLOOR CAMBRIDGE, MA 02141	X		Chief Technology Officer