By default, Parallels Desktop stores virtual machines in ~/Parallels.
To change the default location for new virtual machine installations:
Do one of the following:
Click the Parallels Desktop icon in the menu bar and choose Preferences. Then click General.
Right-click the Parallels Desktop icon in the Dock and choose Preferences. Then click General.
Choose a location from the Virtual Machines Folder menu.
All newly created virtual machines are stored in the new location. Any existing virtual machines remain in their original locations.