1. If you create the textboxes and the labels in the panel, then you can move the panel directly rather than moving the textboxes and labels. Since the panel is a container control.
2. You can change the Location of panel to adapter to the mouse position, such as:
protected override void OnMouseMove(MouseEventArgs e)
{
this.panel1.Location = new Point(e.X, e.Y);
base.OnMouseMove(e);
}