What is the significance of Jacob's wrestling with God? Why did his name change?

God would speak to Moses face to face, as a man speaks with his friend (v. 11), that is, clearly and openly. Moses’ speaking “face to face” with God does not contradict the fact that he was not allowed to see God’s face (v. 20) as “face to face” is a figurative expression suggesting openness and friendship (cf. Num. 12:8; Deut. 34:10; and comments on John 1:18). Joshua stayed in the tent, perhaps to care for it in some way when Moses would return to the camp.

John D. Hannah, “Exodus,” in The Bible Knowledge Commentary: An Exposition of the Scriptures, ed. J. F. Walvoord and R. B. Zuck, vol. 1 (Wheaton, IL: Victor Books, 1985), 157.