Yes you can have multiple instances on the same server. How you would go about doing this is going to very widely. From a high level, if you want 4 instances of Moodle on the same server, you would need:
* 4 different vhosts in the web server configuration, recommended... (unless you choose to host each moodle site in a sub directory). For example:
http://example.com/moodle1
http://example.com/moodle2
I do not recommend using the sub-directory for the different Moodle sites, as it can complicate moving individual sites later if you ever need to migrate the site.
4 different wwwroot folders/directories for each site
4 different config.php in each wwwroot
4 different databases (or you can use the same database with different table prefix for each site in config.php, though maybe better to have separate/different db for each site)
4 different dataroot directories/folders, one for each site
If you are using SSL, you may need 4 different SSL certificates (unless you use a special certificate such as a wildcard certificate or a UCC/multiple-domain certificate). Also if you were to host each moodle site in a sub-directory/sub-folder of the main vhost, then one SSL would suffice, though I don't recommend it (see point above about Moodle in sub-directory)
4 Different DNS records, one to point to each site (again, assumes you don't take the sub-directory/sub-folder path)
I know that is a lot and I hope it makes sense.
Jamie