On my ubuntu, I ended up needing to install the VFS modules:
sudo apt install samba-vfs-modules
smittycodes
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It appears to be Parallels Toolbox v2.6.1 which came bundled with Parallels Desktop v13. I'm using Parallels Desktop v15 now but it did not come with the toolbox so still using this old version.
The CPU spike did not seem to end in a reasonable amount of time for me. I ended up removing Parallels Toolbox from my startup/login items:
System Preferences > Users & Groups > left pane, click your login > Login Items tab > highlight "parallels toolbox" and click "-" to remove it from the startup.