Yaakov יעקב
Anglicized version: Jacob
Meaning #1 - Related to the word heel עקב because Yaakov was born right after his twin brother Esau and came out grasping Esau’s heel (Genesis 25:26, Rashi)
Meaning #2 - “the one who outsmarted” (Onkelos Genesis 27:36) Esau by receiving the firstborn blessings first (which technically already belonged to Yaakov who bought their rights from Esau years earlier, but Esau was not going to honor the sale of the firstborn status).
Meaning #3 - A combination of the Hebrew letter YUD י (which symbolizes the the point of divinity of the core of the soul) & (heel) עקב. The soul’s core permeates to the lowest elements of the person’s material life and and physical body, symbolized by the lowly heel.
The Torah verses above give us two interpretations of the name Jacob. Jacob was born grasping the heel of his elder twin, Esau; thus he was named "Jacob" (Yaakov, in the Hebrew), which means "at the heel." Years later, when Jacob disguised himself as Esau to receive the blessings that Isaac intended to give the elder brother, Esau proclaimed: "No wonder he is called Jacob ("cunning")! Twice he has outsmarted me: he has taken my birthright, and now he has taken my blessings."
Jacob is the Jew still in the thick of the battle of life. A battle in which he is often "at the heel"--dealing with the lowliest aspects of his own personality and of his environment. A battle which he must wage with cunning and stealth, for he is in enemy territory and must disguise his true intentions in order to outmaneuver those forces, both internal and external, who attempt to ensnare him.
Threatened by a hostile world, plagued by his own shortcomings and negative inclinations, the Jacob Jew has yet to transcend the axiomatic condition of his humanity—the fact that "man is born to toil" and that human life is an obstacle course of challenges to one's integrity.
The prophet Balaam commented along these lines in his famous blessing about the Jews"[G‑d] sees no guilt in Jacob, nor toil in Israel." (Numbers 23:21)
G‑d sees no guilt in ‘Jacob’, for despite all that Jacob must face, he has been granted the capacity to meet his every detractor. Even if he momentarily succumbs to some internal or external challenge, he never loses his intrinsic goodness and purity, which ultimately asserts itself, no matter how much it has been repressed by the travails of life. But while he might be free of sin, he is never free of toil, of the struggle to maintain his sinless state. For Jacob, the war of life rages ever on, regardless of how many of its battles he has won.
Short Mystical Meaning of the Name: the name Yaakov or Jacob represent the very real Jew, who is a person of the world, who despite being involved in all aspects of a material life with its constant challenges and temptations, always manages to keep his or her head on straight to live an inspired life of Mitzvahs,ethics, and repentance.